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IPFS News Link • Government Debt & Financing

Here Comes The Senate's Debt Ceiling Vote ...

• Business Insider
 The bill passed the House of Representatives last week with strong bipartisan support.

Indications are that it will pass through the Democratic-controlled Senate unamended. Republican Sens. Rob Portman, Pat Toomey and Rand Paul will introduce amendments that are expected to fail.

President Barack Obama has indicated that he will sign the bill if it reaches his desk.

The legislation also attaches a provision aimed at forcing Senate Democrats to take up a budget for the first time in four years. If they do not, a "no budget, no pay" provision would withhold pay for members.