Treasury's Baker Asks Fast Action on Debt Bill

Treasury Secretary James Baker is urging Congress to pass legislation promptly to raise the ceiling on U.S. debt the United States can borrow, Senate majority leader Robert Byrd said.

Byrd told reporters Baker visited him late Friday to urge Congress not to add time-delaying amendments to the debt ceiling bill that Congress must pass before May 15. Byrd, a Democrat, said he agrees but said others may want amendments.

The current ceiling of 2.3 trillion (2,300 billion) dlrs drops on May 15 to 2.1 trillion dlrs, a level considered too low for U.S. borrowing.