US Senate reaches deal to end shutdown

16 October 2013 04:39 pm Views - 2937

Senate leaders announced on Wednesday that they have reached a deal to end the government shutdown and avoid a possible U.S. default, NBC reported.

The compromise we reached will provide our economy with the stability it desperately needs," Senate Majority Leader Harry Reid, D-Nev., said shortly after noon on the Senate floor.

Congress will now attempt to quickly advance the legislation throughout the day in hopes of avoiding default on the national debt.

Senate leaders jump-started negotiations over a compromise bill to reopen the government and raise the debt ceiling late Tuesday after House Republicans’ efforts to pass their own alternative crumbled in embarrassing fashion for GOP leaders.