Final Version of Reid-McConnell Debt Limit, Shutdown Deal Released (Updated)

(Bill Clark/CQ Roll Call File Photo)

Updated 5:55 p.m. | The final legislative text of the Senate agreement to avert a default on the federal debt and get the federal government back up and running into 2014 is now out.

The final version came less than an hour after a draft went into circulation.

Majority Leader Harry Reid, D-Nev., and Minority Leader Mitch McConnell, R-Ky., announced the agreement on the Senate floor shortly after noon Wednesday.

The legislative text was circulated in advance of Senate floor consideration that's expected early Wednesday evening, with a vote to pass the measure expected no later than 8 p.m., sending it to the House.

The measure will officially be a Senate amendment to a House-passed bill. That allows the Senate to avoid Constitutional issues that would arise if the chamber tried to "originate" revenue legislation.

You can read the final Senate debt limit agreement here.