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Congressional leaders reach budget deal

• By BURGESS EVERETT and JOHN BRESNAHAN

Congressional leaders clinched a two-year deal to lift strict budget caps on defense and domestic spending, putting an end to a series of short-term spending bills and shutdown fights that have defined Washington the past few months.

The deal is expected to increase defense and domestic spending by roughly $300 billion over two years, according to administration and congressional sources, as well as lift the debt ceiling through the election and include tens of billions in disaster aid.

"This bill is the product of extensive negotiations among congressional leaders and the White House. No one thinks this bill is perfect. But we worked hard to find common ground and stay focused on serving the American people," Senate Majority Leader Mitch McConnell (R-Ky.) said in announcing the agreement.

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