By 10 am PDT, there appears to be a deal agreed upon within the US Senate to end the immediate crisis of the deal limit.
Both party leaders announced just after noon EDT on the floor of the US Senate that a deal has been reached to do the following:
- Reopen and Fund the federal government until January 15, 2014
- Raise the debt limit until February 7, 2014 – thereby extending the government’s ability to borrow
- and begin budget negotiations in mid-December this year.
- deal also locks in reduced spending levels established under the “sequester”
Either the Senate or House could vote on the measure first. Senator Ted Cruz – the leader of the Tea Party movement in the Senate – has publicly stated that he would not use any procedures to block the vote in the Senate.
The push for resolution in the Senate was organized by a bipartisan group of women senators (there’s twenty out of on hundred), led by Susan Collins (R) Maine.
As recently as 10 am PDT mainstream media reporters on the Hill believe that the Senate will vote first. Then it will go to the House of Representatives, where Speaker John Boehner has reportedly said that he will bring it to the House floor and pass the measure with Democratic votes.