Republicans and Democrats are nearing a deal that would permanently end budget control caps and would lift the nation’s borrowing limit through July 31, 2021.
“The talks are down to some technical issues,” a source close to the negotiations told the Washington Examiner.
The accord would lift caps on domestic and military spending by $320 billion over two years, to 2021, which is when the 2011 Budget Control Act expires.
The measure includes $75 billion in spending offsets, only half of what the administration hoped would be included.
But it left out language Democrats pushed to include in past spending bills that would prevent President Trump from using funds to pay for a wall on the southern border, an aide told the Washington Examiner.
The measure would increase spending equally for domestic and military budgets, which Democrats had also demanded.
“The near-final agreement is a traditional bipartisan budget agreement where both sides will be unhappy with some aspects,” the source said. “A true compromise.”
House Speaker Nancy Pelosi, D-Calif., said last week she is aiming for a vote in the House this week on the deal. The House adjourns Friday and is not scheduled to return to session until September.
