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.
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.