Senate leaders announce 2-year budget deal

"This bill represents a significant bipartisan step forward," said Sen. Mitch McConnell.
2:24 | 02/07/18

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Transcript for Senate leaders announce 2-year budget deal
Not right I'm pleased to announce that our bipartisan. Bicameral negotiations. On defense spending and other priorities. Have yielded a significant. Agreement. I want to thank my friend the democratic leader of are joining me this afternoon and for the productive discussions. That I have generated. This proposal. The compromise we reach. Will ensure that for the first time in years. Our armed forces will have more of the resources. They needed it he America safe. It will help us serve the veterans who bravely. Served off. And it will ensure funding for important efforts such as disaster relief. Infrastructure. And building. On our work to fight all VO and abuse. And drug addiction. This bill as a product of extensive. Negotiations. Among congressional leaders. And the White House. No one would suggest. It is perfect. But we worked hard to find common ground they focused. On serving. The American people. We have worked well together. For the good of the American people we had serious disagreement. But instead of just going to our own separate corners we came together with ended with an agreement that is very good for the American people. And recognizes needs that both sides of the aisle proffered. I'm pleased to announce that we have reached a two year budget deal. To lift the spending caps for defense. And urgent domestic priorities far above current spending levels. They're one or two final details to work out but all the principles of the agreement are in place. The budget deal doesn't have everything Democrats more. It doesn't have everything Republicans want but it has a great deal of what the American people. After months of legislative lock games. This budget deal was a genuine breakthrough. After months of fiscal brinkmanship. This budget deal is the first real sprout. A bipartisanship. And it should break the long cycle. Of spending crises. That snarled this congress. And hampered our middle class.

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

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