WASHINGTON (AP) — Congress is sending President Bush a record $984 billion boost in the government's authority to borrow money.
The Republican-led Senate's approval in a largely party-line, 53-44 vote Friday completed Congress' work on a measure that will let lawmakers avoid the politically sensitive issue until sometime next year, when another increase in borrowing authority will be necessary.
Congress had breached the current $6.4 trillion limit on borrowing early this year, and the government has averted an unprecedented default only by having the Treasury Department shift money from various funds it oversees.