House Budget Committee Chairman Rep. Paul Ryan, R-Wisconsin, announced a modest budget deal on Capitol Hill on Tuesday afternoon with his Senate counterpart Patty Murray, D-Washington.
The agreement replaces some of the automatic sequester cuts with future cuts that are more targeted to specific programs, requires federal workers to contribute more to their pensions and increases security fees paid by airline travelers.
The deal is not a "grand bargain" some had hoped for that would deal with broader budget issues, but Ryan and Murray said in a news conference Tuesday it is a "step in the right direction."
The bill, if passed through both houses and signed by the president, would be the first budget agreement since 2011, and Ryan said it would be the first bipartisan budget agreement to come out of a divided congress since 1986.
News 3 spoke to Ryan on Capitol Hill on Tuesday shortly after the budget announcement, which he calls "a big accomplishment."