Washington: Congress passed legislation Wednesday night to avert a U.S. debt default and end a government shutdown, a bipartisan deal set along President Barack Obama's strict terms that left Republicans little to show for the epic political drama that threatened to rattle the world economy.
The Senate voted 81-18 to send the measure to the Republican-controlled House of Representatives, which passed it late in the evening 285-144. Obama pledged to sign it “immediately” after the House vote.
The bill reopens the government through Jan. 15 and permits the Treasury to borrow normally through Feb. 7 or perhaps a month longer. It includes nothing for Republicans demanding to eradicate or scale back Obama's signature health care overhaul.
Congress had faced a deadline of 11:59 p.m. on Thursday to raise the government's borrowing authority or risk a default on its obligations.