WASHINGTON — The White House is once again asking Congress to increase the federal borrowing limit by $1.2 trillion to avoid hitting the nation’s debt ceiling, but the request is sure to trigger another battle on Capitol Hill and possibly threaten the availability of sales of state and local government series securities to municipal issuers. 

President Obama sent a letter to House Speaker John Boehner R-Ohio., and Senate Majority Leader Harry Reid, D-Nev., on Thursday notifying them that federal debt is within $100 billion of the statutory ceiling. “Further borrowing is required to meet existing commitments,” the president wrote.

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