US Senate Clears Debt-Limit Extension Bill

The Senate on Wednesday passed an extension of the U.S. borrowing limit into March 2015, after a nail-biter of a vote that saw Minority Leader Mitch McConnell agree to advance the bill unpopular with many Republicans.

By a vote of 55 to 43, the Senate passed an extension of the borrowing limit through March 15, 2015. The measure had none of the conditions or amendments initially sought by Republicans. The White House described any conditions on the debt limit as “ransom” and demanded a “clean” increase.

The bill now goes to President Barack Obama for signature.

Final passage on the measure came after an usually long and tense procedural vote. Democrats who control the Senate needed five Republicans to join with them to advance the bill to final passage, and the vote on that was 67-31. The “ayes” included McConnell, a Kentucky Republican who is up for re-election this year.

MarketWatch

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