Sen. Kent Conrad (D-N.D.) said Sunday that the Senate Finance Committee may not make a mid-September deadline for reaching an agreement.

He said the six senators on the panel who are working on a compromise have agreed to "be ready when we're ready," While Conrad said they hope to reach a conclusion by mid-September, they won't be bound by that timeframe.

"This is not something that should be held hostage to any specific deadline," he said.