White House and Congress Near Agreement on Spending, Debt Ceiling

Discussions continue on deal that would extend debt limit for two years and include $80 billion in spending offsets.

White House and congressional negotiators are closing in on terms for an agreement to set new spending levels and increase the government’s borrowing limit, though no deal was final Monday morning.

House Speaker Nancy Pelosi (D., Calif.) and Treasury Secretary Steven Mnuchin continued to negotiate throughout the weekend, and, as of late Sunday, discussions were focused on an extension of the debt limit for roughly two years, said a person familiar...