Senate Budget Committee chairman Patty Murray (D-Wash.) and House Budget Committee chairman Paul Ryan (R-Wis.) were finalizing details and hoping to schedule a press conference to unveil the deal, which would partially repeal sharp agency spending cuts known as the sequester in fiscal 2014 and 2015.
Those savings would be replaced by roughly $65 billion in other cuts and additional revenue, including fee increases for airline travelers, cuts to federal-worker and military pensions and higher payments for federal insurance of private pensions, according to people familiar with the talks.
Just before 5 p.m., Ryan told reporters “don’t leave” the Capitol.
Ryan and Murray were rushing to file legislation before midnight so the House can vote as soon as Thursday and leave town for the year by the weekend.
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