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[Congressional leaders and White House are closing in on a budget deal]
The deal would increase federal spending by $80 billion over two years and raise the federal borrowing limit through 2017. The 144-page bill, which was released Monday shortly before midnight, was welcomed by Democrats who have been pushing for budget negotiations all year.
“We have a budget agreement,” said outgoing House Speaker John Boehner (R-Ohio) after the meeting of House Republicans where the outlines of the deal were presented.
Boehner (R-Ohio), who will step down on Oct. 30, added that the alternative was a clean debt ceiling suspension with no extra funding for troops. “This is a good deal.”
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