Senate Armed Services Committee Chairman Carl Levin (D-Mich.) is optimistic that there will be no automatic budget cuts in January, Defense News reports.
According to Rick Maze, Levin said that between 80 and 90 percent of Congress wants to prevent sequestration.
Levin said that before the upcoming election, Congress should issue a bipartisan announcement about a possible budget agreement to reassure both the stock markets and the public.
The announcement, he said, should detail topics that lawmakers agree on.
Regardless of whether the sequestration goes through, he said the budget cuts are inevitable and argued that a $10 billion annual defense budget reduction would be better than the effects of a sequestration.