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House GOP wants Democratic help on debt limit

House Republican leaders are proposing an increase in the debt limit for one year that would include benefits for military retirees.

By Michael C. Bender, James Rowley | Updated on February 11, 2014
A pedestrian walks past the U.S. Treasury Building in Washington on a rainy day. (AP Photo/J. David Ake)

Feb. 11 (Bloomberg) — House Republican leaders are proposing an increase in the debt limit for one year that would include benefits for military retirees, even as some lawmakers said the plan would need Democratic votes to pass.

House lawmakers may vote on the plan, which would suspend enforcement of the debt limit until March 15, 2015, as soon as tomorrow. If it doesn’t pass, several Republicans said the next step would be a measure favored by President Barack Obama and Senate Democratic leaders that lifts the borrowing limit without conditions.

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