Senate Passes Bill to Increase Debt Limit

This afternoon, the Senate followed the House and passed the bill (H.R. 325) to suspend the current public debt limit until May 19.  The bill does not cover new spending and suspends members of Congress’ pay if they do not pass a budget resolution before April 15, 2013. The bill passed by a vote of 64-34 and now goes to the President for his expected signature. Action now moves to sequestration, the funding of the federal government and the new May 19 deadline to once again act on the debt limit. For more information, please contact Sean O’Neill at (202) 547-8892 or oneills@agc.org.