Senate Majority Leader Mitch McConnell (R-KY) and Minority Leader Chuck Schumer (D-NY) on Wednesday announced senators had reached a bipartisan spending deal less than two days before the government would run out of money.
The budget agreement funds the government for two years and increases military and domestic spending caps. If the bill passes, it will be the first long-term spending bill enacted since President Trump took office.
I'm happy to announce that our bipartisan, bicameral negotiations on defense spending and other priorities have yielded a significant agreement. Thank you @SenSchumer for joining me this afternoon, and for the productive discussions that generated this proposal.— Leader McConnell (@SenateMajLdr) February 7, 2018
The plan eliminates mandatory spending cuts for two years and increases military spending by $80 billion and domestic spending by $63 billion for fiscal year 2018.
The bill also extends funding for the Children's Health Insurance Program (CHIP) for ten years, includes funding for the opioid crisis, provides disaster relief aid and raises the debt ceiling.
Schumer and McConnell announced the bill as House Minority Leader Nancy Pelosi (D-CA) continued into her third hour of floor remarks.
Pelosi vowed not to support a budget deal without assurances from House Speaker Paul Ryan (R-WI) that the House would vote on a bill to protect so-called Dreamers who will lose protected status under the Deferred Action for Childhood Arrivals (DACA) program in March.
On Tuesday, McConnell promised that if the government did not shut down this week he would allow immigration debate to begin on the Senate floor.
"I'm going to structure in such a way that's fair to everyone," he told reporters Tuesday, adding, "Whoever gets to 60 wins," referencing the threshold necessary to advance a measure in the Senate.
Ryan has said he will only bring a bill to vote if it has the support of Trump.
Trump is insisting that any immigration bill include funding for border security, including the construction of a border wall along the U.S.-Mexico border.