The leader of the U.S. Senate announced late Friday that Democrats and Republicans had struck a deal on holding votes within hours to finalize the 2024 federal budget and avert a damaging government shutdown.

Senators missed a midnight deadline to pass the $1.2 trillion package, keeping the lights on in several key government agencies. However, Senate Majority Leader Chuck Schumer said a series of votes expected soon would prevent any government operations from winding up.