US Senate to Vote on Debt Increase Plan

A vote is scheduled in the U.S. Senate on Sunday that White House and Congressional officials hope could pave the way for an end to the weeks-long deadlock on an agreement to raise the government's borrowing authority.

Tuesday is considered the deadline for Congress to increase the debt limit above the current $14.3 trillion and prevent the federal government from defaulting on its debts.

Intense negotiations took place on Saturday, a day after a Republican proposal that was approved by the House of Representatives was rejected by the Democrat-controlled Senate.

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