The United States Senate today approved a $290 billion increase in debt-limit; thus giving the Obama Administration another two months of borrowing authority.
The US House of Representatives had passed the bill last week.
The Senate bill was passed by 60-39 votes.
Criticized by the Republicans, the Obama administration said short-term increase was necessary because the federal debt was approaching its $12.1 trillion ceiling.
The move will give Congress until mid-February to pass a longer-term increase.
"Democrats just finished approving the $2.5 trillion Reid health care bill and what’s their first order of business? Voting to raise the limit on their credit card so taxpayers can pay for it," Republican Senator John Cornyn said.
"We need to start living within our means as a nation, instead of upping our credit limit every time Democrats want to pass another trillion dollar bill," he said in a statement.
