Update 12:48 EST:
WASHINGTON (AP) — The Senate has approved an emergency bill to avert a first-ever government default with just hours to spare.
The strong bipartisan vote was 74-26. The measure now heads to President Barack Obama for his signature. The legislation makes a down payment on taming out-of-control budget deficits.
Update 12:42 EST: 60 senators sufficient to pass emergency debt limit bill vote for it, roll call continues in the Senate.
WASHINGTON (AP) — Emergency legislation to allow the government to borrow more money headed toward passage in the Senate Tuesday with just hours to spare before the national debt bumps against its ceiling. Expected approval sends the bill to President Barack Obama, averting a potentially disastrous, first-ever government default and making a down payment toward taming out-of-control budget deficits.
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