Congressional leaders have reached a deal on a $1 trillion omnibus spending measure, and the House and Senate are expected to vote on the bill today, thus averting a shutdown of the government. The current continuing resolution expires midnight tonight. The bill (H.R. 2055) includes the nine remaining spending bills (agriculture was passed last month) and will fund the government through September 30, 2012.

Negotiations continue on a package that includes extensions of the payroll tax cut, jobless benefits, as well as a postponement of a cut in Medicare payment to doctors.  Congressional leaders have been deadlocked over how to finance an extension of a 2 percent cut in the payroll tax, which finances Social Security, as well as extended unemployment benefits set to expire at the end of this month.