The U.S. House of Representatives on Thursday passed a bill that would let the federal government borrow money above the debt ceiling to make payments to U.S. bond holders and social security recipients.

The legislation, which was passed by a 221-207 vote, would allow the U.S. Treasury to continue to make payments to foreign and domestic creditors and social security recipients in the event of a stalemate over raising the government's statutory borrowing limit.

Lawmakers in the House voted mainly along the party line. All but eight House Republicans favored the bill while all Democrats opposed it.

Republicans said the bill would remove threat of a government default if the debt ceiling is reached. But opponents said the bill would do nothing to solve the debt problem. The measure is unlikely to become law as the U.S. President Obama has said he would veto it.

The House passed a bill in January to temporarily suspend the 16.4-trillion-dollar debt ceiling until May 19, allowing the federal government to issue debt and pay bills before that date.

By May 19, the debt ceiling will be in effect again. The limit will be recalculated to account for amount borrowed through May 18. It will become the new statutory limit on government borrowing.

The Treasury is likely to have to use extraordinary measures to pay the nation's obligations. As federal revenue increases and red ink decreases, the Treasury is expected to have enough resources to pay the bills until sometime early fall.

With a national debt sits close to 17 trillion dollars, Republicans insist that more spending cuts should be as a condition for a debt ceiling hike, while Democrats demand a "clean " increase.