Congress negotiators near deal on budget, debt limit -sources

[Eugene]

Source: Reuters

Politics | Mon Oct 26, 2015 2:02pm EDT

Congress negotiators near deal on budget, debt limit -sources

WASHINGTON

Republican and Democratic negotiators in the U.S. Congress and the Obama administration are close to agreeing on proposals to raise Washington's borrowing authority and fund government programs over the long term, according to House of Representatives and Senate sources.

While details remain to be worked out, the potential deal would provide funding for government agencies over a two-year period. Higher spending on military and domestic programs would be offset with savings elsewhere, according to the sources, who asked not to be identified.

A deal could be announced as early as this evening, according to the Senate source.

At a regular news briefing, White House spokesman Josh Earnest said: "Not everything ... has been agreed to. That means that nothing at this point has been agreed to. We continue to urge Republicans to continue to engage constructively with Democrats to identify common ground."

U.S. borrowing authority would extend into 2017, the sources said without specifying how far into that year. A new president, who would be elected in November 2016, will take office in January 2017.

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Read more: http://www.reuters.com/article/2015/10/26/us-usa-fiscal-congress-idUSKCN0SK28G20151026

[yeoman6987]

1. About time. Sheesh their basic job is to pass a budget every year

They really haven't in 7 except for continuing resolutions which should be illegal.