Congressional negotiators selling a budget accord won Republican endorsements for the plan to ease automatic U.S. spending cuts for two years, remove the risk of a government shutdown and cut the deficit by $23 billion.
More than 2 million unemployed Americans are at risk of losing their jobless benefits over the next three months. That threatens to undermine the unemployment rate as an anchor for future Federal Reserve action.
U.S. budget negotiators unveiled an agreement to ease automatic spending cuts by about $63 billion over two years and reduce the deficit by $23 billion, breaking a three-year cycle of fiscal standoffs.
U.S. budget negotiators plan to work this weekend from a shrinking menu of options to ease automatic spending cuts for as little as one year amid objections from some groups and lawmakers, said people familiar with the talks.