Republicans Move to Delay Debt Ceiling Clash
Posted at 11 a.m. on Jan. 22
The Financial Times reports that House Republicans are set “to extend temporarily the debt limit, avoiding a confrontation with President Barack Obama amid concerns that they would face a backlash for steering the US government towards default.”
“The House will vote on Wednesday on the bill, which would ‘ensure complete and timely payment of the obligations of the United States government’ until May 19… Congress would have until April 15 to come up with a budget agreement and if they do not lawmakers’ salaries will be withheld in an escrow account.”
“Even if the debt ceiling fight is delayed, lawmakers are still facing a March 1 deadline to reach an agreement to avoid the automatic budget cuts.”
