The showdown shutdown continues on Capitol Hill. House Speaker John Boehner, R-Ohio, and Senate Majority Leader Harry Reid, D-Nev., met Tuesday and while both sides said they had a "productive discussion," a long-term solution to funding the government is far from a done deal. The men don't have a meeting scheduled on the matter for Wednesday, but like many aspects of this debate, that's subject to change at a moment's notice.

The House Budget Committee will look ahead to next year's fiscal picture with a markup of Chairman Paul Ryan's spending plan at 10:30 a.m. ET. Ryan, R-Wisc., proposed a sweeping bill Tuesday that would drastically trim government outlays, modify the tax code, and transform the Medicare and Medicaid health care entitlement programs.

Democrats are not impressed by his ambition nor do they think much of the policy prescriptions contained in the proposal. Budget Committee Ranking Member Chris Van Hollen, D-Md., said that his party would unveil an alternative budget next week. Before then, the House Progressive Caucus, comprised of the more liberal members of the Democratic minority, detail their spending plan at a midday media availability.

Two high-profile executive branch officials testify on their budgets Wednesday, but they're both sure to field plenty of off-topic questions during their time on the witness stand.

U.S. Ambassador to the United Nations Susan Rice testifies at 9:00 a.m. ET and is sure to get questions on the continued American involvement in the civil war in Libya.

Randy Babbitt, the head of the Federal Aviation Administration, testifies before a House Appropriations subcommittee at 10:00 a.m. ET. The agency recently ordered the inspection of older Boeing 737 jets after a plane operated by Southwest Airlines peeled open mid-flight. Inspectors then found cracks in the fuselage of five more Southwest 737s. Grounding the workhorse airliner could lead to higher fares for consumers.

We'll be covering all those stories and more, so be sure to stay with Fox News for all the latest.