Debt Ceiling Talks Gain Momentum

Movement to increase the debt ceiling occurred in the U.S. House of Representatives. House members approved the “No Budget, No Pay Act” on January 23. This is a short term solution with an debt ceiling extension until May 18. This extension allows Congress and the President to haggle over spending cuts and entitlement programs. Lawmakers raised the stakes in this bill by adding the “No Pay” section for members of Congress if they are unable to pass a concurrent resolution on the budget and appropriations.