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'We have an agreement'

With under an hour and a half to go before a midnight deadline, House Speaker John Boehner announced that there is a deal to fund the government for the rest of the fiscal year and that a short-term stopgap measure will be approved tonight to stave off a government shutdown.

“I’m pleased that Senator Reid and I and the White House have been able to come to an agreement that will in fact cut spending and keep our government open,” he announced.

Boehner’s remarks came after a closed-door meeting during which the speaker presented a deal to House GOP members.  

Moments before he came to microphones to announce formally that a deal had been reached, a spokesman for Senate Majority Leader Harry Reid also tweeted “We have an agreement.”

Boehner said that a  “bridge” agreement will be approved tonight that will allow negotiators to put the brokered deal into legislative language and be presented for a vote next week.

In a joint statement, Boehner and Reid said:

“We have agreed to an historic amount of cuts for the remainder of this fiscal year, as well as a short-term bridge that will give us time to avoid a shutdown while we get that agreement through both houses and to the President. We will cut $78.5 billion below the President’s 2011 budget proposal, and we have reached an agreement on the policy riders.  In the meantime, we will pass a short-term resolution to keep the government running through Thursday.  That short-term bridge will cut the first $2 billion of the total savings.”