House Speaker John Boehner (R-OH) and Senate Majority Leader Harry Reid (D-NV) tonight released the following statement:

“We have agreed to an historic amount of cuts for the remainder of this fiscal year, as well as a short-term bridge that will give us time to avoid a shutdown while we get that agreement through both houses and to the President.  We will cut $78.5 billion below the President’s 2011 budget proposal, and we have reached an agreement on the policy riders.  In the meantime, we will pass a short-term resolution to keep the government running through Thursday.  That short-term bridge will cut the first $2 billion of the total savings.”