By Ramsey Cox
Reid also allowed for Senate Minority Leader Mitch McConnell (R-Ky.) to introduce a Republican alternative Wednesday.
If the Republicans decide to filibuster the Democratic plan, 60-votes will be needed for passage, meaning neither plan is likely to pass later this week.
Reid also said he hoped the Senate would begin consideration of Jack Lew to be the next Treasury Secretary on Wednesday. The Senate Finance Committee approved his nomination earlier Tuesday on a 19-5 vote.