House passes bill to defuse debt crisis

Associated Press
Speaker of the House John Boehner, R-Ohio, and the House GOP leadership speak to reporters after a closed-door meeting on avoiding a potential debt crisis, at the Capitol in Washington, Tuesday, Jan. 22, 2013. Joining Boehner, from left, are Rep. Cathy McMorris Rodgers, R-Wash., chair of the Republican Conference, Rep. Lynn Jenkins, R-Kan., and House Majority Leader Eric Cantor, R-Va. House Republicans have said that they will not agree to a long-term debt ceiling increase unless the Senate works with them to pass a budget deal and have also threatened to withhold Congress’s paychecks if either chamber fails to adopt a budget by April 15.   (AP Photo/J. Scott Applewhite)
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WASHINGTON (AP) — The House has passed a bill to permit the government to borrow enough money to avoid a first avoid default for at least four months, defusing a crisis looming next month and setting the stage for a springtime debate over taxes, spending and the deficit.

The House passed the measure by a 285-144 vote, a bipartisan showing on an initiative brought by majority Republicans. The GOP is backing away from its previous demand that any increase in the government's borrowing cap be paired with an equivalent level of spending cuts.

Senate Democratic Leader Harry Reid said the chamber would immediately move to advance the legislation to the White House, which has announced that Obama would sign it.

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