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Washington (AFP) – Pulling America’s economy back from the edge of an abyss, the Senate approved a measure that ends the U.S. government shutdown and averts a potentially catastrophic default.

The bill, which passed 81-18 with broad bipartisan support, now heads to the House of Representatives, less than four hours before the October 17 deadline when the U.S. Treasury could start running out of money to fund its obligations.

House Speaker John Boehner has urged his caucus to vote for the measure, which reopens government and funds federal operations until January 15.

But more importantly for global markets, it also extends U.S. borrowing authority until February 7, ending the threat that the U.S. Treasury could default on its obligations for the first time.

A bitterly divided Congress had been in stalemate for a month over how to fund government and take the threat of default off the table.

“The bipartisan senate rose to the occasion and broke this deadlock,” number two Senate Democrat Dick Durbin said.

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US Speaker of the House Nancy Pelosi wants her Democrats to push through trillions of dollars worth of investments in infrastructure and social service programs before a self-imposed deadline of September 30, 2021

Washington (AFP) - House Speaker Nancy Pelosi expressed confidence a massive infrastructure bill will pass this week but acknowledged it would not get a Monday vote as planned, with fellow Democrats warning critical work remains to meet the party's deadlines.

Democrats have been scrambling to hammer out a landmark plan to upgrade the nation's roads and bridges, but are also under immense pressure to finalize a $3.5 trillion public investment package and fund the government to avert a looming shutdown -- all by September 30.

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