Congress reaches agreement to avert calamitous US debt default

US senators struck a deal on Tuesday to create a one-time law allowing Democrats to lift the nation’s borrowing authority and avert a catastrophic credit default without requiring votes from the opposition Republicans.The House of Representatives will vote on the fix late Tuesday, and it is expected to be approved by Congress in the coming days – allowing lawmakers to avert the crisis with a simple 51-vote majority in the upper chamber.The Bipartisan Policy Center said last week it expected the…

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