Lawmakers Plan To Raise Debt Limit With 12th Feb Vote

The House plans to vote Feb. 12 to increase the U.S. debt limit and restore cost-of-living raises for military retirees, said Representative Robert Pittenger of North Carolina.

The plan was announced in a closed-door meeting of House Republicans, Pittenger told reporters today in Washington. The debt limit would be raised until March 2015, said Republican Representative Joe Pitts of Pennsylvania.

The military retirees’ cost-of-living adjustments had been reduced in a December budget deal. Republicans would pay for the restored benefits by extending cuts in programs including Medicare for one year.

As the party struggles to gather votes for raising the debt ceiling before borrowing authority runs out, Treasury Secretary Jacob J. Lew today took steps to keep the U.S. under the debt ceiling and urged Congress to raise the limit to avoid “potentially catastrophic consequences.”


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Mingze Wu

Mingze Wu

Currency Analyst at Market Pulse
Based in Singapore, Mingze Wu focuses on trading strategies and technical and fundamental analysis of major currency pairs. He has extensive trading experience across different asset classes and is well-versed in global market fundamentals. In addition to contributing articles to MarketPulseFX, Mingze centers on forex and macro-economic trends impacting the Asia Pacific region.
Mingze Wu