Rep. Tom Cole, R-Okla., said Wednesday that budget leaders are attempting to finalize a two-year deal that seeks to prevent another congressional standoff that could trigger a federal shutdown, Reuters reported Wednesday.Cole told Reuters in an interview the bipartisan plan would chop sequester cuts for the next two fiscal years, according to a report by Richard Cowan and David Lawder.
“It’s likely to be a pretty small deal, something that trades some relatively modest savings and perhaps some small entitlement reforms and maybe a little dab of revenue somehow,” Cole added, according to the article.
He noted the deal calls for easing sequestration with revenues through non-tax user fees or communications spectrum auctions, Reuters reports.
Cowan and Lawder write Senate and House negotiators must reach an agreement by Dec. 13 in order for Congress to act before the continuing resolution funding the government runs out on Jan. 15.
