There are votes yet to cast in the House and it would need the President's signature, but we may be closer to stepping off the edge of the fiscal cliff.
The Senate today announced a last minute deal to open the government and raise the debt ceiling. That has officials from the South Dakota Banking Association breathing a bit easier tonight because they say local banks would suffer if the debt ceiling isn't raised by tomorrow's deadline.
"The book value of those treasuries is going to go down which is going to put the banks into a financial difficulty. It's a serious problem regardless the size of the bank and regardless where the bank is," SDBA President, Curt Everson said.
If today's deal is passed, the plan would fund the government until January 15 and extend the nation's borrowing authority until February 7.
Again, the measure needs approval from both the House and the Senate and needs to be signed by President Obama before it can go into effect. Some are still skeptical that will happen before the Thursday deadline.