House and Senate Leaders Said to Agree on Stopgap Spending Bill
By Roxana Tiron - Jul 31, 2012 9:38 AM ET .
Congressional leaders have agreed to a $1.047 trillion stopgap measure to keep the U.S. government operating after Sept. 30, according to two Republican House aides.
That amount was agreed to under last year’s Budget Control Act, which also increased the nation’s debt ceiling.
The stopgap bill would last for six months, according to the aides.
Speaker John Boehner may announce the agreement as soon as today, they said. The timing of the announcement will depend on how long it takes to craft the details of the legislation.
Completing an agreement now will give the leadership time to negotiate ways to avert the automatic spending cuts, known as sequestration, that are scheduled to take place Jan. 2.
To contact the reporter on this story: Roxana Tiron in Washington at rtiron@bloomberg.net
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