Congressional Leaders Reach Bipartisan Budget Agreement

Paul Ryan, Patty Murray announce deal that prevents the potential for another shutdown showdown.
3:00 | 12/11/13

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Transcript for Congressional Leaders Reach Bipartisan Budget Agreement
It. I am happy to report that senator Murray and I have reached an agreement. We've been talking all year. And this week that hard work of the two was sitting -- talking each other all years paid off. -- first it started because we passed budgets. And senator Murray deserves credit for passing a budget for the senate that got the ball rolling so that the -- has started talking. And the reason we're here tonight is explained we've agreed to. This bill reduces the deficit by point three billion dollars and it does not raise taxes and -- cut spending any smarter way. From the outset we knew that if we -- That is why we decided to focus on where the common ground it is. So that's what we've done. That means to me a budget agreement. That reduces the deficit without raising taxes. And replaces some of the arbitrary across the board spending cuts but smarter permanent reforms. That -- this relief. The house budget reflects our ultimate -- It balanced the budget within ten years -- pays off the debt. But I realize that that is not going to pass in this divided government. I -- this agreement as a step in the right direction. In divided government you don't always get what you want that said we still can make progress toward our goals. I see this agreement. As that kind of progress as a step in the right direction -- -- arbitrary cuts we make Smart targeted reforms we eliminate waste. We stop sending -- checks to criminals. We cut corporate welfare. -- reforms a mandatory programs. And we start to make real reforms of these auto pilot programs the drivers of our debt in the first place -- disagreement is a clear improvement on the status quo. This agreement make sure. That we don't have a government shutdown scenario in January. And make sure that we don't have another government shutdown scenario in October. In make sure that we don't lurch from crisis to crisis. It also allows congress to finally exercise the power of the purse -- both from the legislative branch. The constitution says that the legislative branch. Should -- exercise the power of the -- we want to reclaim that from the administration sort of heading all of these continuing resolutions. This also shows that we can work together to get our government functioning at its very basic levels. That we think is a step in the right direction that we think gives us some confidence that brings some normalcy back to our government. I -- take a moment to thank senator Emory she's tough and -- negotiator. She's fought hard for her principles every step of the way. I want to commend her for her hard work. All of a summary documents in the legislation will be texted a week we've placed upon our budget web sites. By the end of the night with that I'd like to offer senator -- -- are far too long hearing in Washington DC compromise -- been considered a dirty word especially when it -- -- the federal budget. Over the past few years we have lurched from crisis to crisis and from wearing clipped to the next. And when one count down clock was stopped it wasn't too long before the next -- got started. That in -- it was devastating to our fragile economic recovery. The constant crisis cost -- billions of dollars in mart's growth -- jobs and the continued across the board cuts from sequestration. We're forcing our families and communities to pay the price. So I am very proud to stand here today with chairman -- to announce we have broken through the partisanship and the gridlock. And reached -- bipartisan. Budget compromise that will prevent the government shut down in January. Our -- puts jobs and economic growth first spiraling back sequestration. Harmful cuts to. Education and medical research and infrastructure investments and defense jobs. For the next two years. Now I know there are some people without these cuts should continue but I'm glad that we increase these key domestic investments and that we averted. The next round as scheduled cuts to military programs bases and defense jobs in our country. This deal builds on the two and a half trillion dollars in deficit reduction we have done since -- eleven and continues the president that we set in the fiscal -- -- That sequestration. Shouldn't it be replaced with spending cuts and -- This bipartisan -- will help millions of Americans who are wondering if they were gonna keep paying the price for DC destruction. From that workers and our military bases and construction projects who were furloughed laid -- To the kids who lost their socks and Head Start Programs to the seniors wondering if they were gonna have meals on wheels. -- to the families who are praying for halted medical research programs to get back to work -- next year and so much more. Because of this -- the budget process can now start switching from crisis to crisis. By sitting bipartisan spending levels for the next two years this deal. Allows congressional committees to proceed under regular order and gives government agencies and the companies that do business with them. The certainty they need to hire workers and make investments investments. This isn't the planet -- written on my own I'm pretty sure it chairman -- -- written on his arm. And there are obviously differences between our parties when it comes to our budget values and priorities. I was disappointed that we weren't able to close even a single corporate tax loophole I know many Republicans had hoped this would be an opportunity. To make some of the kinds of changes to Medicare and Social Security -- advocate for. But congressman Ryan had set aside our differences we've made some compromises. And we've worked together to get something there. I'm still doesn't solve every issue in -- of congress we made a conscious decision as chairman -- -- in the past in the few short weeks we have had. To focus on where we can agree. And not get bogged down in the larger issues that while important are not gonna get solved right now. That we need to acknowledge that our nation has serious long term fiscal and economic challenges this deal doesn't address. And our budget process has been broken many people believe that congress has broken. We've spent years scrambling to fix artificial crises. While our debt piles up in the economic foundation middle class families have depended on for generation continues to crumble. We have budget deficits that have improved that they have not disappeared. And we have deficits in education and innovation and infrastructure that continued to -- We know we need comprehensive tax reform we need comprehensive immigration before there is a lot more for congress to do. So this deal doesn't solve all of our problems but I think it is an important step in helping to heal some of the wounds -- in congress. To rebuild -- and show that we can do something without a crisis right around the corner. And demonstrate the value in making our government work for the people we represent. So when -- this is done. I am very proud to stand with chairman Ryan or anyone else who wants to work on this bipartisan foundation to continue addressing -- -- Challenge if nothing is easy here. But I know the American people expect nothing less. I want to take a minute to especially thank chairman he and I do have some major differences. We cheer for a different faculty. Clearly we catch different finished. We have some differences on policies. But we agree that our country needs some certainty and they need to show that we can work together and I've been very proud to work with him. How -- -- I think congressman van Holland who's worked very hard. Tell make sure this deal reflects the values that she cares a lot about and all of our budget conference committee. Everyone has been involved on the committee has been very hard. Working with -- to get to this -- So I'm hopeful now that we can get this bipartisan deal through the house and then through the senate and -- get home in time for the holidays that I think everybody users to share. Question time. Well. I've talked to publishing house and I -- and healthy chunk of time. That said what you -- to what we're. I think this is not one of your budget has gotten nearly unanimous from this is great compromises floating and that there are conservatives and -- -- noticing that. Well look as a conservative I think this is a step in the right direction what am -- getting out of this I'm getting more deficit reduction. So the deficit will go down more bypassing this then if we did nothing that's point number one point number two they're no tax increases here. Point number three we're finally starting to deal with auto pilot spending. That mandatory spending that is not been addressed by congress for years but this is an easy this -- the first. Dividing -- budget agreement since 1986. The reason we haven't done a budget agreement when both houses were controlled by other party since 86 because it's not easy to do. So we know we're not going to get everything -- she's -- to get everything you want. -- the vote against. With I think -- -- should vote for I expect we're gonna have a healthy vote in the House Republican Caucus. I think we will passage in the house we're going to go first given our schedules. We will post this on our website today this evening. And we intend to bring to the house floor later on this week -- I have every reason to expect great support from our caucus. Because we are keeping their principles the key here is. Nobody had to sacrifice the core principles. Our principles are don't raise taxes reduce the deficit. We also have a lot of concern members about defense. The next hits and -- -- question was going to hit solely on the military starting in January. A lot of our members were concerned about that so what we -- doing here is providing for some sequester relief. For two -- fourteen in for 2015. And we're paying for that with more permanent reforms. On the auto pilot cited the spending ledger in excess of the sequester really which results in net deficit reduction that to me is a good deal there. Photographer Karen -- what sense does this present an agreement between India to review. Purses and Freeman that you know can get through both chambers how much that it -- I can tell you that I've been in close contact with my readership and number of members as we've worked through this issue. I expect that and chairman -- in my job we'll be the same. Yes we leave here tonight -- to. Talk to everybody about our deal and to work to get the votes I'm confident that we won't have a 100% in the senate -- 100%. This is a bipartisan deal. We have both had to move to get to where we are today but I think what the American people. -- -- Is that this congress can look. That people can come -- Together from very different corners and find common ground and drink some certainty Barack church -- -- economy that is what we have continuing focus. -- your specific question David we've done -- in consultation with our leadership team which is in support of this. -- -- with every committee chairman. Whose jurisdiction is involved in this because this stands as you can imagine lots of different committee chairman. So this is Bennett participatory process this -- a process where in the house. We've consulted with numerous colleagues to get their ideas to get their input their feedback and support and that's why I'm very confident about where we stand house. Our request for relief is sure to -- regularly. 85 million dollars and mandatory savings. 63 billion dollars in sequester release the results in about twenty point five billion dollars in deficit reduction. More important crack -- for the first year and the risks and its partner 1012. And or getting in the weeds here. A 1000000000012. Billion for -- when he fourteen. And a 1000000000014. Billion for -- -- -- -- fifteen. That -- earlier question why would a Republican support that. The budgets that I passed last session with -- near unanimity in the house with most house Republicans voting for. What's -- for Trenton ninety. So the budget number that we fought for in the last session won't be hit until -- 2017 under this agreement. This is why I think house Republicans should be supports. There's -- Hot in this you know I'll have the details of -- -- If you don't have a right now very shortly. One and most difficult challenges we -- as we worked through this was the issue federal. And employees and military. And congressman Ryan and I both have worked on this a lot he was he's attacked negotiator in case any of you wanna know. And we started out very high at twenty billion dollars it is down to six billion dollars for federal employees and six billion -- Military and we will have the details of those proposals actually carries in the. Reason those numbers equalize. Is because we think it's only fair. That hard working taxpayers. Who pay for the benefits that our federal employees receive. Can be treated fairly as well we also think it's important that military families as well as nonmilitary families are treated equally in fair. So what we're asking here is that the people who work for the federal government and we thank them for their work they're hardworking dedicated people that we respect. But we think it's only right and fair that they -- something more toward their pensions. Just like the hardworking taxpayer that pays for those pensions and. First place in her -- If chairman -- and I did not reach an agreement. We would be at sequestration that -- very shortly and many of these same people. Would be facing furloughs layoffs and uncertainty we have brought -- back to of those people. Have a separate vote on unemployment insurance that's going to be I think. They should -- any Democrat in this agreement and the leaders that's their -- and -- Certainly markets. -- -- -- government shutdown of threats that the government -- threats and other government shutdown. What do you think that message is out of this deal to markets and and to the business community as a whole. For the congress not just now -- January but going forward through the rest of fiscal one -- Well -- All along. I thought it was very important. That we do we can to show -- -- dividing government can work. And by doing this we are shown -- is divided government can work in its basic function levels which is paying the bills. -- both Republicans and Democrats. Think it's important that congress retains the power the first. And that we set priorities and spending that's after all what the constitution says we should -- we -- elected to do. And we're doing this agreement in large part because what we'll do will avoid those government shut down -- ECU because we're doing a two years. Agreement here. We avoid a possible showdown in January and another possible shutdown in October. We think that Burnett provides certainty and stability but -- -- the markets but in the country. To people who deal with this federal government but more importantly gives power that flew it back to congress is set priorities and spending instead of getting. Basically -- a blank check and destruction to the executive branch of government. Things what are you but that's another press conference sentiment. -- -- it yet I think guiding and leading government shutdowns does alleviate a lot of the answer to that -- been plaguing this country's capital. And we're doing without having tea violate any core principle and I think that's a step in the direction. Been -- darling of the right there are a number of right wing groups have already come out. Aggressively against this plan are you prepared to take all -- coming fire. But. As a conservative. I deal with the situation as it exists. I deal with. The way things are not -- -- the way things I want them to be. -- passed three budgets in a row that reflect my priorities -- my principles and everything I want to accomplish. -- -- about a government I realize I'm not going to get that. So I'm not gonna go a mile in the direction I want to go to but I will take a few steps in the right direction this agreement. Takes us in the right direction from my perspective for the very reasons I laid out before. This says let's cut spending and a Smart way -- and permanent spending cuts to pay for some temporary sequester relief. Resulting in debt deficit reduction without raising taxes. That's fiscal responsibility that's fiscal conservatism. And it adds -- A greater. Stability to the situation it prevents government -- which we don't think is anyone's interest that to me is the right thing to do. And that is a conservative looking at the situation as it is making it better. --

This transcript has been automatically generated and may not be 100% accurate.

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