House takes key step toward raising debt ceiling

Photo by: U.S. Government
Photo by: U.S. Government

(Washington, DC) -- The clock is ticking to prevent the nation from going into default one week from Wednesday.  

The House passed a bill Tuesday night that paves the way for the Senate to raise the debt ceiling on a simple majority vote. Republicans already extended the borrowing limit and have refused to take part in a long-term increase.

The Senate's GOP leader does believe however that most of his colleagues will support this solution, and predicts a vote could happen Thursday.