Republican leaders, with no extra time before a default threatened for tomorrow, voiced optimism that Congress will pass a compromise with President Barack Obama to raise the U.S. debt limit by at least $2.1 trillion and slash federal spending by $2.4 trillion or more, Bloomberg reported.

The plan has met some resistance from Democrats, who fault it for failing to increase taxes, and from a faction of Republicans who say it’s insufficient.

The deal is expected to pass in the Democratic-led Senate, Reuters reported, but could face resistance in the House from tea party supporters and some liberal Democrats.