Senate Passes Debt-Ceiling Bill, President Obama to Sign Into Law

The U.S. Senate has voted to approve the compromise deal to raise the nation’s debt limit and trim government spending by $2.4 trillion over the next decade, just hours before the country was headed for its first-ever default.

Senators voted 74 to 26 to pass the Budget Control Act, which was first approved by the House Monday night. The bill now goes to President Obama’s desk for his signature.

Obama, who is expected to deliver a Rose Garden statement shortly, will sign the package into law later today, the White House said, ending a bruising Washington-made crisis and lifting what the administration has called a “cloud of uncertainty hanging over the economy.”

Read the Rest at  Senate Passes Debt-Ceiling Bill, President Obama to Sign Into Law – ABC News.

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