Reid praised the two polar-opposite senators for agreeing to a bill.
"They have worked out a bill," he said. "It is on the calendar right now. We are going to move to that."
The farm bill is also on the agenda for the Senate, Reid said. The Senate approved a farm bill last year, but the two parties are widely split on the bill, as the Senate version would mostly lock in the current high levels of farm spending.
House Republicans have indicated they want a much more modest bill.
Reid said the Senate will have to move quickly on the water and agriculture bills because he wants to quickly get to the immigration bill, and finish it by June. That issue will require much more work, as Republicans remain wary that that legislation will provide amnesty for illegal residents before strengthening border enforcement.
"We have too much to do when we return from our in-state work period," Reid said. Both the House and Senate are out next week.