Bipartisan debt limit plan will be unveiled Monday: Reid

WASHINGTON Sun Jul 31, 2011 8:48pm EDT

Senate Majority Leader Harry Reid (D-NV) speaks to reporters as he leaves after meeting with House Democratic leadership on the debt ceiling crises on Capitol Hill in Washington July 31, 2011. REUTERS/Joshua Roberts

Senate Majority Leader Harry Reid (D-NV) speaks to reporters as he leaves after meeting with House Democratic leadership on the debt ceiling crises on Capitol Hill in Washington July 31, 2011.

Credit: Reuters/Joshua Roberts

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WASHINGTON (Reuters) - A bipartisan plan to raise the debt ceiling will be presented to Democrats and Republicans on Monday, Senate Majority Leader Harry Reid said on Sunday.

"Leaders from both parties and in both chambers will present this agreement to our caucuses tomorrow," Reid said.

"To pass this settlement, we'll need the support of Democrats and Republicans in both the House and Senate. There is no way either party, in either chamber, can do this alone."

(Reporting by Kim Dixon, Rachelle Younglai)

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