Senate Majority Leader Harry ReidHarry Mason ReidTo Build Back Better, we need a tax system where everyone pays their fair share Democrats say Biden must get more involved in budget fight Biden looks to climate to sell economic agenda MORE (D-Nev.) said Thursday he’s ready to compromise on spending after a GOP spending-cut bill won more votes in the Senate than the Democratic alternative.

“We accept the lessons of yesterday's vote,” Reid said in floor comments. “We know we’ll have to make a sacrifice to reach consensus, and we are willing to do that.”

The GOP measure, which would cut spending this year by $57 billion, lost by a vote of 44-56, while the Democratic bill to cut $6.5 billion was rejected, 42-58.

ADVERTISEMENT

More importantly, 10 Democrats and Independent Sen. Bernie Sanders (Vt.) broke with their leadership and rejected the party's spending measure. Only three Republicans voted against their party’s plan; all want to see even deeper cuts.

Reid also noted the looming March 18 deadline, when the stopgap that is currently funding the government will expire. If Congress does not approve a new funding measure, there would be a government shutdown.

“It's time to get down to business,” said Reid. “My Republican colleagues set the deadline, and the responsibility of meeting it is as much yours as mine.

“It’s time for all political posturing to end,” added Reid.

Minority Leader Mitch McConnellAddison (Mitch) Mitchell McConnellHow the Democratic Party's campaign strategy is failing America GOP should grab the chance to upend Pelosi's plan on reconciliation We don't need platinum to solve the debt ceiling crisis MORE (R-Ky.) also spoke on the Senate floor Thursday morning but focused his remarks on a criticism of the administration’s energy policies.