House passes two-year budget, debt limit plan, sends to Senate

U.S. Representative Paul Ryan (R-WI) arrives to talk to the media after being nominated for speaker of the House of Representatives on Capitol Hill in WashingtonWASHINGTON (Reuters) – The U.S. House of Representatives on Wednesday passed a sweeping two-year budget deal that averts a debt-limit default and clears away some contentious fiscal deadlines for the prospective new House Speaker, Paul Ryan. The vote sends the measure to the Senate for consideration later this week. The deal extends the federal debt limit through March 2017 and eases automatic spending caps to add $80 billion in new discretionary spending over two years, split evenly between the military and non-defense programs. …

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