Reid says Senate Dems will accept House debt bill

(AP) Senate Majority Leader Harry Reid says Senate Democrats will support a House Republican bill extending the government's ability to borrow for four months.

The Nevada Democrat told reporters Wednesday the Senate would pass the bill as quickly as possible, meaning it could go to President Barack Obama as soon as this week. The House was voting on the bill Wednesday.

Reid said he preferred a longer extension, and he mocked a Republican provision that says lawmakers will lose their paychecks unless Congress passes a budget. Nevertheless, Reid said Senate Democrats plan to pass the bill as is.

He said it is a victory for Obama that House Republicans abandoned their demand that increasing the government's ability to borrow be accompanied by cuts in government spending.