The Senate killed House Republicans’ plan to raise the U.S. debt limit as the nation nears an Aug. 2 deadline to avoid default.
The 59-41 Senate vote came after the House passed the plan proposed by Speaker John Boehner. It would have boosted the debt limit by $900 billion now and allowed a second increase early next year only if Congress made further spending cuts and sent a balanced-budget constitutional amendment to the states for ratification.
Senate Majority Leader Harry Reid is working on his own debt-limit proposal. The House plans a vote tomorrow to reject his plan.
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