The leaders of the US Senate had reached an agreement to end the fiscal crisis of the country. The agreement would also increase the borrowing authority of the United States. According to Republican leader Mitch McConnell, US lawmakers would want to pass the deal today.

The agreement would also end the partial government shutdown which is now on its 16th day. It would also extend the borrowing authority of the United States that would lapse on October 17. House Republicans had shown signs that they would let the agreement pass, said a report from Reuters. The first votes could occur as soon as today, according to Republican Senator Ted Cruz. He also added that they would not delay a vote.

According to Senate Majority Leader Harry Reid, "The compromise we reached will provide our economy with the stability it desperately needs."

The agreement negotiated by Reid and McConnell would fund the government through January 15 of next year. The agreement would suspend the debt limit until February 7 which had ignited another round of confrontations among US lawmakers.