Here’s the latest, via Politico:
Right now, Republicans want to fund the government through Dec. 15, and lift the debt ceiling through Nov. 20. That would open two tracks for negotiations. Appropriators will develop 2014 spending levels. And then broader fiscal talks — spearheaded by Budget Chairman Paul Ryan of Wisconsin, Ways and Means Chairman Dave Camp of Michigan and GOP leadership — would proceed alongside the debt ceiling timeline. These talks could include reforms to the tax and entitlement systems.
According to the Associated Press:
In addition to ending the shutdown and increasing the debt limit, the proposal includes an easing of the across-the-board spending cuts that began taking effect a year ago, and replacing them with curbs in benefit programs that Obama himself has backed.
Among them is a plan to raise the cost of Medicare for better-off beneficiaries.
The “across-the-board spending cuts” are what’s known as last year’s sequester.