TENTATIVE DEAL REACHED? – Weekend Debt Limit Updates Thread

***UPDATE: TENTATIVE DEAL REACHED?***

Here’s a quick summary of today’s events, courtesy of Hotair:

Via John McCormack, Senate Republicans have sent a letter to Reid urging him not to waste his time with the current bill. But there’s a hitch:

43 GOP senators sign bill saying they oppose Reid bill. Brown, Collins, Snowe, Murkowski didn’t sign it.

Also, the House soundly defeated Reid’s bill before it even got the House: 173 For / 246 Against. Sounds like they are using the Democrat moves against them.

Boehner and McConnell just had a press conference where Boehner laid the blame squarely on Obama’s shoulders as to why we are in this mess (or as he put it, cul-de-sac), during the Q/A. McConnell also says they have been in talks with Obama within the last hour.

Here’s the whole press conference that occurred at 4PM:

Also, both Nancy and Harry have been summoned to the White House.

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As a side note, here is Rubio’s speech from the Senate Floor today on his perspective on the problems we are facing. Aside from the interruption by Kerry, it was great:

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UPDATE: The Senate’s cloture vote on Reid’s bill will occur tomorrow at 1PM. It was moved because Reid says there are negotiations going on at the White House and they need more time.

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UPDATE: ABC is reporting that a tentative deal has been reached:

  • Debt ceiling increase of up to $2.8 trillion
  • Spending cuts of roughly $1 trillion
  • Vote on the Balanced Budget Amendment
  • Special committee to recommend cuts of $1.8 trillion (or whatever it takes to add up to the total of the debt ceiling increase)
  • Committee must make recommendations before Thanksgiving recess
  • If Congress does not approve those cuts by late December, automatic across-the-board cuts go into effect, including cuts to Defense and Medicare.

Rep. Dennis Ross (R-FL) tweeted:

“that’s not a deal, that’s a surrender.”

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