- U.S. Republican Representative Pete Sessions, the chairman of the powerful House Rules Committee, is hopeful that the GOP and White House can strike a deal today to raise the debt limit and finance the federal government.
- Last night, the sides were due to work on "defining parameters to see if we can make progress," Sessions said.
- The Republican proposal to extend the cap by six weeks would reportedly ban the Treasury from using extra-ordinary measures to avoid default. The government has been using those steps since May to ensure that it doesn't fall behind on its payments, although the measures will only only last another six days.
GOP hopeful of debt-budget deal today
Oct 11 2013, 03:09 ET