In a concession to Republicans, the agreement would phase out extra federal funds that have gone to states for the program since the additional money was mandated as part of President Barack Obama's 2010 health care law.
Money for the federal-state program is due to expire at the end of September. The program provides health coverage to around 8 million low-income children and pregnant women.
It was initially unclear how the agreement would fare in the Senate and the House.
But the two negotiators — Senate Finance Committee Chairman Orrin Hatch, R-Utah, and that panel's top Democrat, Ron Wyden of Oregon — work closely with party leaders. In addition, having embarrassingly failed in this year's attempt to repeal Obama's health care statute, Republicans and President Donald Trump are eager for an accomplishment and would be unlikely to stymie the continuation of such a widely supported initiative.
It was also unclear if the pact would move quickly and by itself through Congress, or become a vehicle for other, less widely backed legislation.Read more at CBS News