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Hill And Trump Administration Close In On 2-Year Budget Deal

The two-year deal to set spending levels and raise the debt limit would end a decade of roller coaster fiscal standoffs in Washington. Speaker Pelosi and Treasury Secretary Mnuchin are finalizing it.
Speaker Nancy Pelosi, seen answering questions at a press conference in July, is negotiating a budget deal with Treasury Secretary Steven Mnuchin.

Updated at 2:28 p.m. ET

House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin are closing in on a budget deal to raise the debt ceiling past the 2020 elections and set $1.3 trillion for defense and domestic spending over the next two years.

Congressional sources briefed on the deal

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