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Congress raises debt limit through March 2015; extends sequester
For the first time since 2009, Congress approved a “clean” increase in the nation’s debt limit without attaching conditions.
The House voted 221-201 to raise the debt ceiling and avoid default on the nation’s debt, with only 28 Republicans in support.
Reps. Paul Ryan, R-WI, who chairs the House Budget Committee, and Sam Graves, R-MO, chair of the House Small Business Committee, both voted “no.”
President Obama signed the bill into law on Feb. 15. The new limit applies through March 2015.
In a separate bill, Congress voted to cancel $6 billion worth of cuts to retired veterans’ pensions
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