NEW YORK (CNNMoney) - Legislators finally agreed on an eleventh-hour plan to raise the debt ceiling on Sunday, but one part of the debate was left out of the final draft - tax reform.
Deficit reduction of up to $2.4 trillion was the centerpiece of the deal to raise the nation's borrowing limit, which passed Congress this week after months of debate. But the deal accomplishes that only through spending cuts, not an increases in tax revenue, as Democrats had pushed for.
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Washington (CNN) – The Senate on Tuesday passed Senate bill 365, otherwise known as the bill to extend the debt ceiling, 74-26. President Obama has also signed the bill into law.
Here's how they voted:
"Motion to Concur in the House Amendment to S. 365; An act to provide for budget control."
74 AYE
26 NO
See how each senator voted, after the jump:
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Washington (CNN) - President Barack Obama signed a last-minute compromise plan to raise the nation's $14.3 trillion debt ceiling Tuesday afternoon, narrowly averting what could have been an unprecedented default with calamitous economic consequences.
The U.S. Senate passed the plan, which imposes sweeping new spending cuts over the next decade, shortly after noon ET. The bill was approved in a 74-26 vote; 60 votes were required for passage.
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WASHINGTON (CNN) – President Barack Obama will commemorate the September 11, 2001, terrorist attacks in events at the three sites connected with the assaults - in New York City, at the Pentagon and in Shanksville, Pennsylvania, White House Press Secretary Jay Carney announced Tuesday.
"The president and Mrs. Obama will join with the rest of the American people in marking the 10th anniversary of a day that we will never forget," Carney told reporters. "The president will participate in commemorations at each of the three locations where we lost so many loved ones."
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(Updated at 2:15 p.m. ET)
NEW YORK (CNNMoney) - The debt ceiling debacle has just cost U.S. taxpayers more than $18 million.
That's the amount of additional interest the government had to pay investors Monday to sell Treasury bills that finance its operations.
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Washington (CNN) - President Barack Obama calls the debt ceiling deal passed by Congress "an important first step for ensuring that as a nation we don't live beyond our means."
Washington (CNN) - A member of Congress has apologized after saying that being associated with President Barack Obama would be similar to touching a "tar baby."
Rep. Doug Lamborn, R-Colorado, sent a letter to Obama "apologizing for using a term some find insensitive," he said in a statement Monday.
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(CNN) - The U.S. Senate passed legislation increasing the debt ceiling Tuesday in a 74-26 vote, sending it to President Barack Obama to be signed into law hours before the federal government would have faced a possible default.
(CNN) - Former acting U.S. Attorney General and conservative judge Robert Bork will co-chair Republican presidential candidate Mitt Romney's justice advisory committee.
The former Massachusetts governor announced his 63-member committee Tuesday, which includes a number of officials and appointees from the administrations of former Presidents Ronald Reagan and George W. Bush.
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(CNN) - President Barack Obama handily defeated Sen. John McCain in Pennsylvania in 2008, but a new poll offers an early glimpse into the minds of Keystone State voters – and it's not pretty for the President.
Pennsylvania voters disapprove of President Obama by a 54 to 43 percent margin, according to a Quinnipiac University poll released Tuesday. Perhaps more strikingly, 52 percent of Pennsylvanians say the president does not deserve to be re-elected.
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