White House urges Congress to pass budget compromise reached by leaders

October 27, 2015 2:14 PM

A White House official said the compromise deal would protect Social Security and Medicare beneficiaries from cuts.

White House urges Congress to pass budget compromise reached by leaders

The White House said on Tuesday it urged members of Congress from both parties to pass a budget based on an agreement reached on Monday night by congressional leaders that would lift mandatory sequestration cuts on both defense and domestic spending.

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A White House official said the compromise deal would protect Social Security and Medicare beneficiaries from cuts.

"It's a responsible agreement that is paid for in a balanced way by ensuring that hedge funds and private equity firms pay the taxes they owe and by cutting billions in wasteful spending," the White House official said in a statement.