Republicans aim to suspend debt limit until May

Forget about raising the federal debt limit. House Republicans are proposing to ignore it altogether -- at least until May 18.

The House plans to vote Wednesday on a measure that would leave the $16.4 trillion debt limit intact, but declares it "shall not apply" from the date the measure passes until mid-May.

This approach -- novel in modern times -- would let Republicans avoid a potentially disastrous fight over the debt limit without actually voting to let the Treasury borrow more money.

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Lori Montgomery covers U.S. economic policy and the federal budget, focusing on efforts to tame the national debt.
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