Tentative deal on budget

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The White House and congressional leaders reach a two-year budget deal overnight, potentially averting a fiscal standoff as House prepares for new leadership. Deborah Lutterbeck reports.

Tentative deal on budget

A potential deal reached on Capitol Hill overnight with the White House and Congressional leaders reaching an agreement that could avert a fiscal standoff.

In what could be a final act for Speaker John Boehner lawmakers found common cause on a two-year budget deal that would lift sequestration cuts and raise the federal debt ceiling.

Cautious optimism from Rep. Darrell Issa:

(SOUNDBITE) (English) REP. DARRELL ISSA, SAYING:

“I won’t be part of shutting down the government. I also don’t want to be part of doing nothing. I also don’t want to be part of doing nothing, so hopefully this middle ground is something I can support- I suspect it will”

Central to the pact is the easing of across-the-board budget caps which would allow an additional $80 billion in spending over two years, split evenly between military and domestic programs.

But not all lawmakers are optimistic — like Representative John Fleming.

(SOUNDBITE) (English) REP. JOHN FLEMING, SAYING:

“This president has never shown an interest in reforming entitlements”

A vote on the deal is expected on Wednesday, coming a day before Paul Ryan is set to be elected the new House Speaker.

Tags : budget, deal, Tentative

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