Senate Majority Leader Harry ReidHarry ReidThe Memo: Trump pulls off a stone-cold stunner The Memo: Ending DACA a risky move for Trump Manchin pressed from both sides in reelection fight MORE (D-Nev.) joined his Republican counterpart Sunday afternoon in expressing optimism on a deal currently in the works between congressional leaders and the White House. 

"We are close to an agreement with Republican leaders," Reid said. “[A]fter speaking to Republican leader Mitch McConnellAddison (Mitch) Mitchell McConnellSenate passes 0B defense bill Overnight Health Care: New GOP ObamaCare repeal bill gains momentum Overnight Finance: CBO to release limited analysis of ObamaCare repeal bill | DOJ investigates Equifax stock sales | House weighs tougher rules for banks dealing with North Korea MORE [R-Ky.] this morning, we are cautiously optimists.”

The deal would cut roughly $3 trillion in a combination of discretionary cuts and caps over the next decade in exchange for approving an immediate hike in the nation's borrowing limit. 

Reid's positive outlook Sunday stood in sharp contrast to statements he made just 18 hours before on the Senate floor in which he adamantly denied McConnell’s claims that an agreement could be on the horizon. 

The “Republican leader should know that merely saying you have an agreement in front of television cameras doesn't make it so," Reid said.

Reid cautioned Sunday that the tentative agreement remained fragile.

"No agreement has been made,” said Reid. “[W]e are not there yet.”