Congress extends US borrowing authority until 2015 | Bangkok Post: news

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Congress extends US borrowing authority until 2015

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Lawmakers approved a 13-month extension of US borrowing authority with no strings attached, shelving a fractious political debate over the nation's debt ceiling until after November's mid-term elections. 

US Republican Senator Rand Paul of Kentucky talks with a staff member as he walks to participate in a cloture vote to end debate in the Senate on a bill to raise the debt limit at the US Capitol in Washington, DC, on February 12, 2014

With last-minute help from Republican leaders to overcome a blocking effort, the Senate passed the legislation 55-43, marking a dramatic victory for President Barack Obama, who had demanded a debt ceiling hike with no political riders or other legislation attached.

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