Tagged: Debt Limit

Update at 1:25 p.m. ET: By a vote of 285-144, the House just passed a Republican plan that postpones for three months the federal government's next bump up against the so-called debt ceiling.

As we said earlier, the measure would head off another big battle over raising the government's borrowing authority — such as the one in 2011 that almost led to a government shutdown.

The Senate picked up Tuesday exactly where it left off nearly three weeks ago. By a twist of the rules, the Senate chamber remains in its first legislative day of the 113th Congress.

Senate Majority Leader Harry Reid, D-Nev., said he's kept things at the starting point so that he and his fellow Democrats have the option of changing the rules on the filibuster by a simple majority vote.

"The Senate will take action to make this institution that we all love, the United States Senate, work more effectively," Reid said Tuesday. "We'll consider changes to the Senate rules."

House Republican leaders intended to put off the debt ceiling fight for three months. But could they accidentally be giving the Obama White House carte blanche to borrow like crazy through mid-May?