House OKs suspension of debt ceiling

01/23/2013 | Wall Street Journal, The

The U.S. House, in a 285-144 vote, passed a measure that suspends the debt ceiling until May 18. The bill states that the Senate and the House must pass a budget by mid-April or lawmakers will not receive their compensation. Some conservatives agreed to the debt-limit suspension after Rep. Paul Ryan, R-Wis., promised a budget plan that would erase the deficit in 10 years without raising taxes.

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Wall Street Journal, The

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