Schumer says deal reached for vote to avoid government shutdown

Senate Majority Leader Chuck Schumer announced an agreement late Wednesday for a Thursday morning vote to avoid a government shutdown. 

If passed as expected, the stopgap bill will keep the government running through Dec. 3, averting a shutdown just hours before the midnight Thursday deadline. 

"Now, we are ready to move forward," Schumer said Wednesday night. "We have an agreement on the C.R., the continuing resolution to prevent a government shutdown and we should be voting on that tomorrow morning."

Schumer said the Senate can approve it quickly and send it to the House "so it can reach the President's desk before funding expires midnight tomorrow."

"Tomorrow, the Senate will vote on legislation to prevent a needless shutdown, provide long-sought emergency funding to help Americans still reeling from natural disasters, and provide funding to help re-settle Afghan refugees," Schumer tweeted. 

SENATE GOP BLOCK DEMOCRATIC BILL TO FUND GOVERNMENT, RAISE DEBT CEILING 

Democrats were forced to remove a suspension of the federal government's borrowing limit from the bill to get Republicans on board. 

On Monday, Senate Republicans voted unanimously to block a bill passed by the House to fund the government because it would also suspend the debt ceiling until December 2022. 

Republicans have argued that any effort to raise the borrowing limit would clear the way for Democrats to enact costly proposals that will add to the national debt. 

If the debt limit isn't raised by Oct. 18, the country would likely face a financial crisis and economic recession, Treasury Secretary Janet Yellen said. It could also delay Social Security and child tax credit checks. 

Senate Minority Leader Mitch McConnell has insisted Democrats raise the debt ceiling without Republican votes. 

Prior to Monday's vote, McConnell had pushed for the chamber to strip the debt ceiling provision out of the legislation, for a bill similar to Thursday morning's. Democratic lawmakers blocked that initiative.  

"Secretary Yellen warned that a default would be disastrous for millions of families and workers," Schumer tweeted earlier Wednesday. "Senate Republicans have solidified themselves as the party of default. We are working to raise the debt ceiling and avoid irreparable economic harm to people and families." 

The U.S. has never defaulted on its debts in the modern era, and historically both parties have voted to raise the limit. Democrats joined the Republican Senate majority in doing so three times during Donald Trump’s presidency. 

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The bill still needs to pass the House. 

Schumer's office did not immediately respond to Fox Business' late-night request for comment. 

Fox Business' Thomas Barrabi and the Associated Press contributed to this report.