An emerging Senate deal would raise the nation’s $16.7 trillion debt ceiling until mid-February, according to Senate aides.
There were conflicting claims on how long the extension would last, with one aide saying it would go to Feb. 15 and another saying Feb. 7.
It would immediately reopen the government and fund it until Jan. 15, the aides said.
The deal on the table between Senate Majority Leader Harry Reid (D-Nev.) and Senate Minority Leader Mitch McConnell (R-Ky.) would also establish a House-Senate budget committee to come up with a replacement for automatic sequestration cuts. The conference committee would have to report back to Congress by Dec. 13.