(Bloomberg) – President Donald Trump and congressionalleaders agreed to enact emergency aid for Hurricane Harvey together with an extension of theU.S. debt limit and funds to keep the government running, boththrough Dec. 15, Democratic leaders said Wednesday.

|

"Both sides have every intention of avoiding default in Decemberand look forward to working together on the many issues before us,"Senate Democratic leader Chuck Schumer and House Democratic leaderNancy Pelosi said in a joint statement after leaders of bothparties met with the president.

|

Related: FEMA is almost out of money as Hurricane Irmathreatens Florida

|

Republican leaders and Treasury Secretary Steven Mnuchin werepushing for a longer-term debt-limit deal, according to a personwith knowledge of the meeting. But the president accepted an offerfrom Democratic leaders for a three-month deal that includedfunding the government until mid-December.

|

Just hours earlier, House Speaker Paul Ryan called theDemocratic proposal "unworkable" and "ridiculous."

|

$7.4 billion disaster-relief fund

The House passed $7.4 billion for a federal disaster-relief fundtwo days before it's set to run out. The measure, passed 419-3, isdesigned to provide relief to tens of thousands of homeowners fromflooding caused by Hurricane Harvey in Texas and other parts of theGulf Coast.

|

Senate Republican leaders had planned to use the measure tosuspend the debt ceiling past the November 2018 congressionalelections, but Trump's move upended their strategy.

|

Related:

|

Returning home after HurricaneHarvey

|

House is said to plan vote on Harvey funds inmid-September 

|

Harvey could reshape how and whereAmericans build their homes

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.