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U.S. House nears vote on bill to speed passage of debt limit increase

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Reuters

By Richard Cowan and Susan Cornwell WASHINGTON (Reuters) -The U.S. House of Representatives on Tuesday was on the verge of breaking a deadlock over increasing the federal government’s $28.9 trillion debt limit, in hopes of avoiding an unprecedented default on payments. A House vote on passage of a measure making it easier for the Senate to promptly raise the debt limit with a simple majority vote of its 100 members was expected imminently. “Increasing the debt ceiling will prevent us from defaulting on debt we already owe. It’s about investments that the Congress previously approved,” Democrat…

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