House Republicans are advancing a novel plan to suspend enforcement of the federal debt limit through May 18, a move that would lift the threat of a government default and relieve the air of crisis that has surrounded their budget battle with President Obama.

The measure — set for a vote Wednesday in the House — would not resolve the dispute over how to control the national debt. But after the traumatic “fiscal cliff” episode at the end of last year, it would buy policymakers a little breathing room to continue the argument without another economy-rattling deadline just around the corner.

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