Wednesday, January 23, 2013

House Passes Debt Ceiling Measure

House Debate on "No Budget, No Pay"

Washington, DC
Wednesday, January 23, 2013
The House, by a vote of 285-144 passed the "No Budget, No Pay" measure that ties a temporary suspension of the federal debt limit with the Senate passing a budget. House Speaker John Boehner (R-OH) called the measure "a plan to balance the budget over the next ten years." The deal would raise the government's current $16.4 trillion debt limit until May 19. In exchange, the House and Senate must pass a budget resolution by April 15 or place members' salaries in an escrow account until the chamber acts.
The bill now goes to the Senate for their consideration.

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