Note: This article is being updated as information becomes available.
Senate Majority Leader Harry Reid and Senate Minority Leader Mitch McConnell this morning reached a deal to end the government shutdown and avoid a default.
The House is expected to vote on the measure first. Approval is by no means assured.
White House Press Secretary Jay Carney endorsed the deal early this afternoon.
The agreement would lift the debt ceiling until February 7 and fund government operations through January 15. House and Senate negotiators would be instructed to begin negotiations on a budget that would include a determination of the future of the sequester cuts enacted last year.
Republican also a tiny concession that would help ensure people who get subsidies to purchase health insurance are eligible.
Senate conservatives, including Ted Cruz (R-Texas) said they would not seek to delay a vote.