CREATED Oct. 16, 2013
Washington, D.C. (KTNV) -- Senate leaders said they've come up with a deal to avoid the default, and end the government shutdown.
"This compromise we reached will provide our economy with the stability it desperately needs," said Senate Majority Leader Harry Reid.
The proposed agreement would reopen the government until Jan. 15, extend the nation's credit limit until Feb. 7, and make major changes to President Obama's health care law.
In order for the bipartisan plan to pass before the midnight deadline, cooperation is needed from members of both parties.
The senate must have unanimous consent, meaning conservative hardliners must be on board.
While the deal appears to have broad agreement in the senate, it's fate in the house remains in doubt.
The house is in disarray after Tea Party republicans late Tuesday rejected House Speaker Boehner's latest attempt at a breakthrough.