DEVELOPING...

From Eric Dondero:

The Hill and the Washington Post both reported late last night that Boehner, Cantor and House GOP leaders have reached a tentative compromise with Senate Democrats on the buget proposal and continuing resolution. They will "split the difference," between $36 billion proposed by the House GOP and $30 billion agreed to by Senate Democrats.

The compromise will most likely avoid any government shut-down.

After weeks of arguing, Republicans and Democrats on Capitol Hill began negotiations Wednesday on a possible budget agreement that would slash federal spending by as much as $33 billion and avert a government shutdown.

If approved, the deal would be the largest single-year budget cut in U.S. history.

Ezra Klein columnist with WaPo reports that among those items on the chopping block:

Planned Parenthood and NPR and hobble health-care reform

Still, some Tea Party-oriented Republicans in both the House and Senate, have vowed to vote against any final package that does not include deeper cuts. Originally, fiscal conservatives wanted $61 billion in overall cuts.