The U.S. Senate approved legislation Thursday that pulls the nation from the brink of a payment default with a short-term debt-ceiling increase, breaking a weeks-long standoff that rattled financial markets.
The vote was 50-48, with no Republicans in favor of the measure that simply kicks the can toward another precarious debt-limit fight in less than two months. The $480 billion increase in statutory borrowing would run out around Dec. 3.
