(Reuters) U.S. Senate leaders struck a bipartisan 11th-hour deal to break the fiscal impasse on Wednesday, and the Republican-led House of Representatives agreed to take it up as Congress moved to avert a historic debt default.
With the government's borrowing authority set to run out on Thursday, aides said House Speaker John Boehner would allow the deeply divided House to vote on the Senate plan for a short-term increase in the debt limit and a reopening of government, which was expected to pass with mostly Democratic votes.
The timing of the House and Senate votes is unclear.
The deal would extend U.S. borrowing authority until February 7, although the Treasury Department would have tools to temporarily extend its borrowing capacity beyond that date if Congress failed to act early next year.
The agreement also would fund government agencies until January 15, ending a partial government shutdown that began with the new fiscal year on October 1.
The moves were a bruising political defeat for Republican conservatives who had demanded changes to President Barack Obama's healthcare law before they would agree to fund the government.
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