Senate Democrat and Republican leaders on Tuesday praised the new budget and debt ceiling deal, but it faces skepticism among some lawmakers who question how revenue is raised in the two-year agreement.

"The agreement reaches the basic points that were important to most Senate Republicans," Senate Majority Leader Mitch McConnell, R-Ky., said, including no tax increases and reforms to entitlement spending. "I'm hopeful and optimistic that bill will come over to the Senate, and when it does, we'll take it up."

Minority Leader Harry Reid, D-Nev., said the bill satisfies Democrats by boosting spending equally between defense and domestic budgets.

"This agreement is not perfect, but it does address investment in domestic priorities that benefit the middle class and also defense spending," Reid said after meeting with fellow Democratic lawmakers to discuss the deal.

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