The U.S. House of Representatives could vote on legislation to raise the government’s borrowing authority above the $16.7 trillion cap as early as Friday, Republican leadership aids told Reuters.A Reuters article said that it was unclear if the bill would have any potentially controversial items added to it such as the defunding of the ‘Obamacare’ healthcare law.
In other Congressional news, the Senate is expected to vote on the House Republican’s spending bill in the early afternoon on Wednesday despite an attempt by Senator Ted Cruz to stall the vote.
That piece of legislation funds the federal government but controversially defunds ‘Obamacare’.
Treasury Secretary Jack Lew told Congress on Wednesday that if the borrowing limit is not raised by October 17, the U.S. government will only have $30 billion on hand to conduct all of its business.
