White House and congressional negotiators rushing to hammer out the final details of a sweeping budget and debt deal are unlikely to include many — if any — actual spending cuts, even as the debt limit is lifted for two years, people familiar with the talks said.

The agreement appeared likely to mark a retreat for White House officials who had demanded major spending cuts in exchange for a new budget deal. But the process remained in limbo while negotiators awaited final approval late Sunday from President Trump…

But instead of the $150 billion in new spending cuts recently demanded by White House acting budget director Russell Vought, the agreement would include a significantly lower amount of reductions. And those reductions aren’t expected to represent actual spending cuts, in part because most would take place in future years and likely be reversed by Congress at a later date. A precise figure could not be learned.