An emerging Senate deal would raise the nation's $16.7 trillion debt ceiling until mid-February, according to Senate aides.
There were conflicting claims on how long the extension would last, with one aide saying it would go to Feb. 15 and another saying Feb. 7.
It would immediately reopen the government and fund it until Jan. 15, the aides said.
The deal on the table between Senate Majority Leader Harry Reid (D-Nev.) and Senate Minority Leader Mitch McConnell (R-Ky.) would also establish a House-Senate budget committee to come up with a replacement for automatic sequestration cuts. The conference committee would have to report back to Congress by Dec. 13.
Democrats had been pushing for a shorter government-funding deal, so moving the date to Jan. 15 would be a concession on their part. By pursuing an earlier deadline, Democrats had hoped to buy more time to negotiate changes for a longer-term 2014 budget to prevent a scheduled spending cut under the sequester from taking place.
Under the current budget law, spending for 2014 will automatically be reduced by $19 billion to $967 billion 15 days after Congress adjourns, which is expected to be about Jan. 15.
Senate Democrats have pushed for sequestration to end, bringing the yearly discretionary budget to $1.058 trillion while Republicans have pushed to keep the $967 billion total while shifting cuts from defense programs to social programs.
Democrats argue they are making a concession to Republicans because they are locking in current spending levels for two months longer than they initially wanted.
