Congress passes bill suspending federal debt ceiling until May 19 . Obama likely to sign the bill , which also passed the Senate . Obama requires lawmakers to pass budget resolutions by May 19 or have pay withheld . For their part , top Republicans have essentially conceded that a fight over raising the debt ceiling is not the best political avenue for achieving their twin deficit and spending reduction goals . Senate also confronting budget sequester and government funding deadlines .
Congress passes bill suspending federal debt ceiling until May 19 . Obama likely to sign the bill , which also passed the Senate . Obama requires lawmakers to pass budget resolutions by May 19 or have pay withheld . Senate also confronting budget sequester and government funding deadlines .