(Washington, DC) -- Senate leaders are unveiling a bipartisan deal to raise the debt ceiling and end the partial shutdown of the federal government. Opening the Senate, Majority Leader Harry Reid called it an historic compromise and heaped praise on his frequent nemesis, Senate Republican leader Mitch McConnell.
McConnell spoke of "getting past the drama of the moment" and said considerable work needs to be done by both sides to cut spending and grow the economy. Terms of the tentative deal include funding government operations through mid-January and boosting the debt limit into early February. The deal must clear complex parliamentary hurdles in the Democratic-led Senate and will also have to get through the Republican-controlled House.
Senate Majority Leader Harry Reid announced the terms of the agreement.
Senate Minority Leader Mitch McConnell says Congress' work is not done yet.
McConnell says this deal is historic.