Updated, 11:10 AM
Senate Majority Leader Harry Reid told reporters this morning that he and House Speaker John Boehner agreed last night to $38 billion in spending cuts. The only hurdle left to clear, Reid said, was Republican insistence on the inclusion of a Planned Parenthood policy rider. Reid said he was “very hopeful” the parties could reach an agreement before the government shuts down at midnight. “The consequences of shutting down the government could be devastating,” Reid said during a speech this morning on the Senate floor.
During very brief remarks delivered at 11:oo AM, Boehner said the size of the spending cuts remain the paramount issue. But didn’t specify whether a number had been agreed to, saying only that the parties were close on policy. With that, he left the podium without taking questions.