News Headline Summary

US Republican House legislation would extend borrowing capacity until May 19; vote expected on Wednesday

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Update details:

- While past measures to address the debt limit have simply increased the borrowing cap, the House bill would actually suspend the debt limit for three months. Then, on May 19, the debt limit would be automatically increased from USD 16.4trl to accommodate whatever additional borrowing the Treasury had done during that time frame according to the Hill blog.

Print 17:02, 21 Jan 2013 - Economic commentary - Source: Newswires