FILE – In this Tuesday, Jan. 1, 2013, file photo, the dome of the Capitol is reflected in a skylight of the Capitol Visitor’s Center in Washington. The Senate Thursday, Jan. 31, 2013, took up must-do legislation to permit the government to borrow hundreds of billions of dollars more to meet its obligations, putting off one Washington showdown even as others loom in coming weeks. (AP Photo/Jacquelyn Martin, File)
WASHINGTON (AP) — Congress sent President Barack Obama drama-free legislation on Thursday raising the debt ceiling, averting a government default and putting off the next tax-and-spending clash between the White House and Republicans until later in the year.
The measure cleared the Senate on a vote of 64-34 after winning House approval late last week. It permits the Treasury to borrow above the current $16.4 trillion debt limit through May 18. The White House has said Obama will sign it.
“Failure to pass this bill will set off an unpredictable financial panic that would plunge not only the United States but much of the world back into recession,” Sen. Max Baucus, D-Mont., said before the vote. “Every single American would feel the economic impact.”
But Republican leader Mitch McConnell said in remarks on the Senate floor that “government spending is completely out of control – and it’s projected to get much worse in years to come.” His office issued a statement shortly after the vote saying he had opposed the legislation after Democrats torpedoed several Login to read more