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IPFS News Link • Economy - Economics USA
After a grinding week of negotiations in the House of Representatives,
the chamber's GOP majority finally approved Speaker John Boehner's plan
to increase the nation's $14.3 trillion debt ceiling just ahead of the
the Aug. 2 deadline for its expiration. And in short order, the
Democratic-led Senate voted to table the House-passed measure in favor
of a proposal advanced by Senate majority Leader Harry Reid. The
Senate's maneuver now sets up a House vote over the weekend on the Reid
proposal--and a fresh round of battling in Congress.
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