By Judith Ugwumadu | 12 February 2014

The US House of Representatives yesterday narrowly approved a measure to suspend the country’s $17.2 trillion debt limit for one more year.

Twenty-eight Republicans joined the Democrats in voting in favour to extend the federal borrowing authority until March 2015. The vote was carried by 221-201. 

This comes after US Treasury Secretary Jack Lew warned the US was likely to exhaust its borrowing capacity in late February risking a possible default on federal debt payments. 

The Republican-dominated House, had continuality made it difficult for the government to increase its borrowing limit, demanding extensive budget cuts and a repeal of President Obama’s flagship healthcare reforms. But the Republican have now set aside their debt issues until the next congressional elections in November this year. 

Speaking after the vote, House speaker John Boehner said: ‘[Obama] will not engage in our long-term spending problem. So let his party give him the debt ceiling increase that he wants.’

In December, legislators approved a two-year budget deal to keep the government running, but both the House and Senate failed to provide the borrowing authority needed to pay for the spending commitments that they made.