In an eleventh hour deal, Senate Majority Leader Mitch McConnell announced a deal with Senate Minority Leader Chuck Schumer to fund the government and set spending levels for defense and nondefense programs over the next two years. Senate leaders agree to two-year budget deal:
It also lifts the debt ceiling to March 2019 [which was to have been the next manufactured crisis for GOP hostage taking in a few weeks.]
The deal is backed by McConnell and Senate Minority Leader Charles Schumer (D-N.Y.), and will almost certainly be cleared as part of a stopgap funding measure by the Senate before a Feb. 8 deadline to prevent a shutdown.
It is not entirely sure the package will win enough support to pass the House, however.
As anticipated, GOP fiscal hawks revolt against Senate budget deal:
House conservatives on Wednesday revolted against a massive bipartisan deal to raise the debt ceiling and bust spending caps, complaining that the GOP could no longer lay claim to being the party of fiscal responsibility.
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The swift backlash from fiscal hawks means that Ryan and his leadership team will need dozens of Democratic votes to help get the caps-and-funding deal through the lower chamber to avert a government shutdown set for midnight Friday.