Trump Announces Two-Year Budget Deal That Will Handle Debt Ceiling "With No Poison Pills"

President Trump on Monday announced that a budget deal has been reached with the House and Senate that will contain 'no poison pills.' 

"I am pleased to announce that a deal has been struck with Senate Majority Leader Mitch McConnell, Senate Minority Leader Chuck Schumer, Speaker of the House Nancy Pelosi, and House Minority Leader Kevin McCarthy," Trump tweeted Monday afternoon, adding "This was a real compromise in order to give another big victory to our Great Military and Vets!"

NPR reported earlier Monday that House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin had been closing in on a budget deal to raise the debt ceiling beyond the 2020 election, while setting a defense and domestic spending budget of $1.3 trillion over the next two years. 

Congressional sources briefed on the deal said the agreement would suspend the debt limit until July 31, 2021, and include parity in spending increases for defense and domestic programs. It would include about $75 billion in offsets for those spending increases.

President Trump alluded to the pending deal on Monday during his meeting with the Pakistani prime minister on Monday, saying "We're doing very well on debt limit... and I think we're doing very well on the budget."