House Votes To Suspend Federal Debt Ceiling Until 2015

Law360, Washington (February 11, 2014, 8:11 PM EST) -- The U.S. House of Representatives on Tuesday narrowly passed a bill suspending the federal debt ceiling through March 2015, over the objections of most Republican lawmakers, moving a significant step closer to avoiding a looming federal default.

The bill, unveiled late Monday by the House Committee on Rules and attached to an existing measure, S. 540, to allow it to come to vote before a scheduled recess, is a so-called clean debt ceiling extension bill, suspending the federal borrowing limit through Mar. 15, 2015, without proposing...
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