The House of Representatives narrowly approved a one-year extension of federal borrowing authority on Tuesday after Republicans caved into President Barack Obama's demands to allow a debt limit increase without any conditions. The 221-201 vote, carried mainly by Democrats, marked a dramatic shift from the confrontational fiscal tactics House Republicans have used over the past three years, culminating in last October's 16-day government shutdown. It came after House Republicans repudiated House Speaker John Boehner's latest plan to link an increase in the $17.2 trillion borrowing cap to a repeal of planned cuts to military pensions.
via Business News - Yahoo Finance http://ift.tt/1lyf41H
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