Congress passes bill to extend borrowing authority - WKOW 27: Madison, WI Breaking News, Weather and Sports

Congress passes bill to extend borrowing authority


WASHINGTON (WKOW) -- A bill to extend the federal borrowing limit is headed to President Obama.

The Senate passed the measure Thursday that temporarily suspends the $16.4 trillion limit on borrowing. Records show Wisconsin's senators were split in the vote. Democrat Tammy Baldwin voted for the bill, while Republican Ron Johnson voted against the measure.

Experts say the bill allows the U.S. Treasury to meet its obligations through July.

President Obama has said he will sign the bill.

The Republican-controlled House passed the legislation last week.

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