Final Version of Reid-McConnell Debt Limit, Shutdown Deal Released (Updated)
Updated 5:55 p.m. | The final legislative text of the Senate agreement to avert a default on the federal debt and get the federal government back up and running into 2014 is now out.
The final version came less than an hour after a draft went into circulation.
Majority Leader Harry Reid, D-Nev., and Minority Leader Mitch McConnell, R-Ky., announced the agreement on the Senate floor shortly after noon Wednesday.
The legislative text was circulated in advance of Senate floor consideration that’s expected early Wednesday evening, with a vote to pass the measure expected no later than 8 p.m., sending it to the House.
The measure will officially be a Senate amendment to a House-passed bill. That allows the Senate to avoid Constitutional issues that would arise if the chamber tried to “originate” revenue legislation.