Republican leaders in the U.S. House of Representatives are considering a stopgap measure to fund the government for the rest of the fiscal year that could drop spending levels below $1 trillion, Bloomberg reported. 

 The measure, known as a continuing resolution, would fund the government through Sept. 30 at about $974 billion, well below the current level of $1.043 trillion, Rep. James Lankford, an Oklahoma Republican, said yesterday.

 "It's a serious cut," Lankford, a member of the House Budget Committee, said in an interview. "That's significant."

 Automatic spending cuts stemming from a 2011 budget agreement are scheduled to take effect March 1, and legislation funding government operations expires on March 27.