(Washington, DC) -- Senate leaders announced a deal to raise the debt ceiling and end the partial shutdown of the federal government.
Any deal must clear complex parliamentary hurdles in the Democratic-led Senate and will also have to get through the Republican-controlled House. One scenario would have the House voting first and then sending the legislation back to the Senate.
Terms of the tentative deal include funding government operations through mid-January and boosting the debt limit into early February. The U.S. faces the prospect of default for the first time in history without a deal to increase the nearly 17-trillion dollar debt ceiling. Treasury Secretary Jack Lew has identified tomorrow as the day the U.S. will exceed its borrowing authority.