Senate leadership progress towards budget deal

By Marc Castro

Oct 14, 2013 09:14 PM EDT

According to both leaders of the Senate aisle, there had been significant progress toward an agreement to end a partial government shutdown and avoid the nation from breaching the US debt ceiling in the next three days.

The agreement would suspend the debt limit until Feb.7 2014 and fund the government through January 15. This would require a bicameral budget conference by December 13, according to a source in the Senate familiar with the discussions, who spoke on condition of anonymity. 

According to Senate Majority Leader Harry Reid (D, NV), just after the Senate adjourned today,  "We've made tremendous progress. We are not there yet."

The flurry of activities towards the finalization of a deal in the Senate was the strongest signal from Congress of its intention to prevent the country from defaulting on its scheduled debt payments as early as this month and end the shutdown that started Oct. 1. 

© 2024 VCPOST, All rights reserved. Do not reproduce without permission.

Join the Conversation

Real Time Analytics