Senate leaders have reportedly reached an agreement to extend the debt ceiling into December.
The Hill reports:
“We have reached an agreement to extend the debt ceiling through early December,” Schumer said.
The agreement, according to a Senate aide, would increase the debt ceiling by $480 billion, which based on Treasury Department estimates would extend the debt ceiling until Dec. 3.
Senate Minority Leader Mitch McConnell also confirmed an agreement had been reached after he proposed a compromise Wednesday afternoon.
“The Senate is moving toward the plan I laid out last night to spare the American people from an unprecedented crisis,” he said.
“The pathway our Democratic colleagues have accepted will spare the American people any near-term crisis,” McConnell added.
So far, specifics surrounding the agreement haven’t been released. A vote on the agreement could come as early as Thursday however it’s not yet certain.