Budget negotiators in the Congress have reached an agreement on Tuesday that, if approved by the House and Senate, could restore some order to the nation's chaotic budget process and avoid another government shutdown on January 15.
The chief negotiators, Democratic Senator Patty Murray and Republican Representative Paul Ryan, were to announce details at a news conference at 6 p.m. ET (2300 GMT).
While not a big deal in terms of deficit reduction, enactment of the funding measure - by no means a certainty - would be a departure from the political showdowns of recent years that have rattled markets, threatened the country's economic recovery and lowered the standing of the U.S. Congress to all-time lows in the eyes of voters.
The most immediate result would be to avoid starting the new year with another government shutdown on January 15. The government was partially closed from October 1 to October 16 after a battle over Obamacare held up passage of a measure to fund the government.