US House passes debt ceiling extension bill

WASHINGTON - The US House of Representatives on Wednesday passed a bill to extend the debt limit through the middle of May.  

The bill, which cleared the House by a 285-144 vote, would suspend the debt ceiling until May 19, allowing the federal government to issue debt and pay bills.

The measure, initiated by the House Republicans, will temporarily defuse the default crisis, and at the same time set a timeline for the next phase of budget wrangling.

Senate Democratic Leader Harry Reid said the chamber would immediately move to advance the legislation to the White House, and the White House has indicated it won't block the bill.