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Mon. 2:36pm: White House open to short-term hike in debt limit

October 7, 2013
Tribune Chronicle | TribToday.com

WASHINGTON (AP) - Senate Democrats intend to introduce legislation by mid-week to raise the nation's debt limit without the unrelated conditions Republicans have said they intend to seek, officials said today, as the White House signaled it would accept even a brief extension in borrowing authority to prevent an unprecedented default.

The emerging measure is designed to ensure that there's no repetition of the current borrowing squeeze until after the 2014 elections.

Depending on the Republican response, it could be the middle of next week before a final vote is taken on the measure, close to the Oct. 17 deadline that Treasury Secretary Jacob Lew has set for Congress to avert a possible default.

The details were described by officials who spoke on condition of anonymity, saying they were not authorized to discuss a measure that has yet to be made public.

It is unclear when Republicans in the House, who hold a majority, intend to advance debt limit legislation of their own.

 
 

 

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