House Republicans Prepare to Vote on New Debt Ceiling Bill

Would allow borrowing to continue up to May 18 and pressure Democrats in the Senate to pass a budget

WASHINGTON –  House Republicans are teeing up a vote this week on a new debt ceiling bill, marking the first legislative battle of President Obama's second term and one that could determine whether the country once again risks default over a political fight. 

House leaders, after unveiling the legislation Monday, are planning to hold a vote Wednesday on their plan to allow the government to keep borrowing through May 18.