Congressional negotiators have reached a budget deal for government funding through 2015 while averting the threat of another shutdown at the beginning of next year. The bipartisan agreement reduces spending cuts under the sequester by $63 billion, replacing them with new airline fees and cuts to federal pensions. Republican Rep. Paul Ryan and Democratic Sen. Patty Murray called the deal a win for both sides.

Rep. Paul Ryan: “I think this agreement is a clear improvement on the status quo. This agreement makes sure that we don’t have a government shutdown scenario in January. It makes sure that we don’t have another government shutdown scenario in October. It makes sure that we don’t lurch from crisis to crisis.”

Sen. Patty Murray: “Our deal puts jobs and economic growth first by rolling back sequestration’s harmful cuts to education and medical research and infrastructure investments and defense jobs for the next two years.”

As part of the deal, Democrats dropped their demand to include an extension of unemployment benefits set to expire this month. Democrats say they will instead push for the jobless benefits in a separate measure.