PORTLAND, Maine (AP) — Sens. Susan Collins and Olympia Snowe of Maine both voted for emergency legislation allowing the federal government to avoid default, sending the proposal to President Barack Obama for his signature.

Both senators say the plan approved Tuesday is not perfect but is a step in the right direction.

Collins says defaulting on the nation’s obligations would’ve had dire consequences for the economy. But she says the $14.3 trillion debt is also a threat to a strong economy.

Snowe said it’s important that the measure requires spending reductions equal or greater to the amount the debt ceiling is raised.

Without the legislation, the government’s ability to borrow would run out at midnight. The bill is subject to a 60-vote threshold to advance.