Congressional negotiators reached a bipartisan budget compromise on Tuesday that would prevent another government shutdown, if approved by the House and Senate.
“Republicans have their issues with this deal but so do many democrats who wanted to see much more, including an extension of unemployment benefits. So there's something in here for everyone to hate," reports CNN's Joe Johns.
House Budget Committee Chairman Paul Ryan said Tuesday the deal with his Senate counterpart, Patty Murray, would set spending levels, reduce the deficit, and relieve some of the arbitrary, forced spending cuts - known as sequestration.
The pair found common ground just days before a Friday deadline to settle the matter.
"We have broken through the partisanship and the gridlock," Murray said.
Ryan said the deal was "a clear improvement" over the status quo.
"This agreement makes sure that we don't have a government shutdown scenario in January. It makes sure we don't have another government shutdown scenario in October. It makes sure that we don't lurch from crisis to crisis," the Wisconsin Republican said.
President Barack Obama called the development a good first step.
"This agreement doesn't include everything I'd like - and I know many Republicans feel the same way. That's the nature of compromise. But it's a good sign that Democrats and Republicans in Congress were able to come together and break the cycle of short-sighted, crisis-driven decision-making to get this done," Obama said in a statement.