Sen. Pat Toomey, R-Ky., a member of the deficit reduction Supercommittee, described himself as “cautiously optimistic” that the bipartisan group would reach a deal before the automatic trigger initiates across-the-board cuts.

“There has been progress,” Toomey said today during an appearance on MSNBC’s Morning Joe. “There are very substantive discussions going on virtually every day, and I remain cautiously optimistic that we’ll reach an agreement.”