Would raise debt limit until first quarter of 2015.
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House Republicans are preparing to introduce a bill as soon as next week that would lift the debt limit until the first quarter of 2015, according to sources who spoke with Politico. The bill would also patch the Medicare reimbursement rate for nine months and change the cost of living benefits for military retirements. Under the plan, Republicans would seek an extra year of cuts to mandatory spending and changes to pension contributions.
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