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Last-Minute Debt Agreement May Be Close


Officials say the White House and Republican leaders in Congress are making significant progress toward a last-minute agreement to avoid a default threatened for Tuesday.

These officials say the two sides are discussing a plan to raise the debt limit by about $2.4 trillion and enact spending cuts of a slightly larger amount in two stages.

The deal under discussion would also require Congress to vote on a balanced budget amendment to the Constitution, but not require its approval.

The officials spoke on condition of anonymity, citing the sensitivity of the discussions.

Reid delayed a test vote on the Democratic debt limit increase plan until 1 p.m. Sunday, as some Senate leaders are expected to work with White House officials through the night.

The Associated Press contributed to this article.

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