US debt ceiling hike clears House, heads to Senate
WASHINGTON (AFP) - US Republicans capitulated on Tuesday to President Barack Obama's call to extend the nation's borrowing authority with no strings attached, dialing back the threat of an election-year fiscal showdown.
The House of Representatives narrowly approved a measure to suspend the US debt ceiling until March 2015. It now moves to the Senate, which could act on it as early as this week.
A relatively drama-free extension of borrowing authority without other conditions attached would mark a shift away from the confrontations in recent years that brought the world's largest economy to the brink of default and shuttered the US government for 16 days last October.
It could also avoid the turmoil that rocked US and international markets during the previous debt limit fights.