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Mon Jan 21, 2013, 06:11 PM

House Republicans seek vote to extend debt limit to May 19

Source: Reuters

House Republicans seek vote to extend debt limit to May 19

By David Lawder
WASHINGTON | Mon Jan 21, 2013 3:23pm EST

(Reuters) - Republican leaders in the House of Representatives have scheduled a vote on Wednesday on a nearly four-month extension of U.S. borrowing capacity, but the bill does not specify a dollar amount.

Legislative language released by the House Rules Committee on Monday said the bill aims "to ensure complete and timely payment of the obligations of the United States Government until May 19, 2013."

The legislation is a strategic move by House Republicans to avoid a fight over the looming federal debt ceiling and shift their negotiating leverage for spending cuts to other fiscal deadlines. The U.S. Treasury expects to exhaust all remaining power to borrow money under the $16.4 trillion debt limit sometime between mid-February or early March.

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Read more: http://www.reuters.com/article/2013/01/21/us-usa-fiscal-debtlimit-idUSBRE90K0NO20130121

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