DEVELOPING: The White House and House Democrats have a 'near-final agreement' on a budget deal that would suspend the debt limit until mid-2021, a source close to the talks told NBCNews on Monday. - AlexNBCNews
The White House and House Democrats have a"near-final agreement" on a budget deal that would suspend the debt limit until mid-2021, a source close to the talks told NBC News on Monday.
The near-final two-year agreement would suspend the debt limit until July 31, 2021, and put an end to an automatic spending cuts that would have kicked in without a deal. The near-final deal is a traditional bipartisan budget agreement in which both sides will be unhappy with some aspects — a true compromise, the source said. The near-final agreement would include parity in increases in domestic and defense spending and about $75 billion in spending offsets.
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