House Passes Workaround to Raise Debt Ceiling

“The House passed a bill Tuesday night to expedite a debt ceiling fix in the Senate, allowing Democrats to essentially raise the nation’s credit limit on their own and thwart a Christmastime default,” Politico reports.

“The measure — which is the result of an 11th-hour accord between party leaders — tees up a new path for Congress to hike the nation’s borrowing ability, preventing the Treasury Department from running out of cash as soon as this month.”