Boehner to allow House vote on emerging Senate debt-ceiling deal

Speaker John Boehner (R-Ohio) has agreed to allow a vote in the House on the  emerging Senate debt-ceiling deal, according to a Senate source.

Senate Majority Leader Harry Reid (D-Nev.) and Minority Leader Mitch  McConnell (R-Ky.) were racing Wednesday to put the finishing touches on the deal  ahead of Thursday’s deadline for raising the $16.7 trillion debt limit.

The draft of the Senate agreement would  raise the debt ceiling until Feb. 7, reopen the government until Jan. 15 and  form a budget conference to resolve the automatic spending cuts under  sequestration.

“The Speaker will bring that bill to the House floor,” Rep. Kevin Brady  (R-Texas) told Bloomberg television Wednesday morning.

It’s unclear whether the House or Senate will vote first on the agreement.

Starting in the House could speed passage in the Senate, but a senior House  GOP leadership aide said the order of votes remains up in the air.

“No decision has been made about how or when a potential Senate agreement  could be voted on in the House,” said Michael Steel, a spokesman for  Boehner.

Lawmakers are racing against the clock to meet Thursday’s debt-ceiling  deadline, when the Treasury Department says the nation’s borrowing authority  will be exhausted.

The credit rater Fitch on Tuesday said it was putting the U.S. on watch for a  possible downgrade, creating a sense of urgency for getting legislation to  President Obama’s desk.

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