WASHINGTON (Reuters) - A new $85 billion U.S. budget deal reached on Tuesday should win passage in the House of Representatives with Republican support, said House Budget Committee Chairman Paul Ryan, the top Republican negotiator.
He called the deal a "step in the right direction," that would avoid threats of another government shutdown in January, when current funding expires, and in October next year, when the next fiscal year starts.
"What am I getting out of this? I'm getting more deficit reduction. So the deficit will go down more by passing this than if we did nothing," he told a news conference.
According to a statement released by Ryan and the top Democratic negotiator, Senator Patty Murray, the two-year deal would shift $63 billion worth of automatic spending cuts to other savings over a decade. It would also provide $20 billion to $23 billion in additional 10-year deficit reduction.
(Reporting By David Lawder; Editing by Mohammad Zargham)