HispanicBusiness

The leaders of both chambers of Congress agreed Tuesday on a deal to fund the government for six months and avoid a possible government shutdown.

The agreement essentially removes the looming threat of the government running out of money as the election season gets into full swing.

The deal announced by Speaker of the House John Boehner and Senate Majority Leader Harry Reid would see Congress approve the short-term 1-trillion-dollar (812-billion euro) funding measure in September. Lawmakers would draft the legislation during the coming August recess.

"This agreement reached between the Senate, the House and the White House provides stability for the coming months, when we will have to resolve critical issues that directly affect middle class families," Reid said in a statement. "I hope that we can face the challenges ahead in the same spirit of compromise."

The White House said President Barack Obama would work with Congress and sign the bill into law.

"The agreement reached by House and Senate leadership to fund the government through the first quarter of 2013 is a welcome development, and we are encouraged that both sides have agreed to resolve this issue without delay," spokesman Jay Carney said.