AACCSenate leaders announced on October 16 that they reached an agreement to end the congressional standoffs on government spending and raising the debt ceiling.

The deal, on which the Senate hopes to vote on October 17, would provide the government with stopgap funding through January 15, 2014, thus allowing furloughed government employees to return to work.

In addition, the government’s ability to borrow money would be extended until February 7, 2014, thus averting a default on the federal debt.

The only concession given to congressional Republicans for advancing the measures was a provision to strictly monitor the income of those seeking federal subsidies under health care reform.

[Source: AACC]