Congress

Congress has approved must-do legislation to permit the government to borrow hundreds of billions of dollars more to meet its obligations, averting a first-ever government default that had loomed as early as mid-February.

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Congress has approved a total of more than $60 billion in Sandy relief aid for the Garden State and New York. The top Democrat in the New Jersey Senate says when you're talking about that much money, you had better make sure none of it is squandered.

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The Senate is set to vote Monday on a $50.5 billion emergency relief bill to help victims of Superstorm Sandy.

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The House has passed a bill to permit the government to borrow enough money to avoid a first avoid default for at least four months, defusing a crisis looming next month and setting the stage for a springtime debate over taxes, spending and the deficit.

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Republicans controlling the House are moving quickly to try to defuse a potential debt crisis. They're offering legislation to prevent a first-ever default on U.S. obligations for three months or more.

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As the Sandy Relief Bill moves closer to materializing, Congressman Rush Holt (D-12) warns cuts to the Regional Ocean Partnerships in the legislation will prove detrimental to the region as it recovers.

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Two and a half months after Superstorm Sandy slammed Jersey, the House of Representatives has finally approved a 51 billion dollar relief package, much to the delight of the New Jersey Congressional delegation.

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If New Jersey is to completely recover from the destruction and devastation caused by Sandy, the state has receive at least $25 billion in federal funds.

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Treasury Secretary Timothy Geithner is telling congressional leaders that the U.S. government will exhaust its borrowing limit as soon as mid-February, earlier than expected.

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Tomorrow in Washington, D.C., the House is expected to vote on the remaining $51 billion in Sandy Relief aid for New Jersey and New York.

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