Moments ago, news hit that democrat negotiators Patty Murray, and republican Paul Ryan reached a bipartisan deal to ease the automatic budget cuts by $60b. The deal calls for auctioning of govt airwaves, increased premiums for pensions backed by PBGC, a congressional aide told Bloomberg’s Heidi Przybyla. A press conference will be held at 6pm to unveil the bipartisan budget agreement, according to e-mailed statement. As a result, a January 15 government shutdown will be avoided.
More from NBC:
Negotiations on Capitol Hill have yielded a modest budget agreement to ease automatic spending cuts and replace some of them with savings from future-year cuts.
Details on the pact by House Budget Committee Chairman Paul Ryan and Senate Budget Committee Chairman Patty Murray were to be announced by the duo Tuesday evening.
The agreement would ease the harshest spending cuts set to strike the Pentagon and domestic agencies for a second year.
It would require federal workers to contribute more to their pensions, increase premiums on companies whose pension plans are insured by the federal government and increase security fees paid by airline travelers.
The pact by Ryan and Murray comes after several failed attempts at broader budget pacts
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via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/kM8pJDbcc4E/story01.htm Tyler Durden