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The Senate on Wednesday agreed on a deal that would effectively reopen the U.S. government, as well as lift the debt ceiling and avoid the U.S. debt crisis. The deal will now go to the House, where it is expected to pass.
The Senate deal would keep the government open until January 15, and extend the U.S. borrowing limit through February 7, The Wall Street Journal reports. In addition, the deal contains just one small change to President Barack Obama’s Affordable Care Act—one that would put procedures in place to verify the incomes of those receiving government subsidized healthcare.
According to CNN, House Speaker John Boehner called for House Republicans to let the measure pass. Boehner stated, “Blocking the bipartisan agreement reached today by the members of the Senate will not be a tactic for us,” however, he also expressed that the Republican “drive to stop the train wreck that is the president's health care law will continue.”
The Senate agreement has already brought good news—the Dow Jones industrial average, which dropped 70 points on Monday, rose 200 points with the announcement that a bipartisan deal had been reached. And if the deal passes the House, President Obama has said, “I will sign it immediately. We'll begin reopening our government immediately,” pushing the nation the closest it has been thus far to finally reopening the government.