Reid Will Introduce Bill to Raise Debt Limit

The Senate is preparing to move ahead this week on legislation to raise the nation’s debt ceiling, Senate aides told ABC News, with Majority Leader Harry Reid expected to file a bill shortly on a “clean” debt-limit increase.
 
“With only 10 days until the debt-ceiling deadline Oct. 17, Senate Democrats are attempting to jump-start a debate on increasing the nation’s borrowing power of $16.7 trillion. Strong resistance is expected from some Republicans, aides say, so Reid wants to give the Senate enough time to overcome the threat of a filibuster. If Republicans exhaust all procedural options, the earliest the Senate could approve the bill is Oct. 15.”