"The U.S. government will continue functioning," stated Speaker Mike Johnson.

The details of the plan are currently unknown, reports Reuters, and it is unclear whether Democrats will support it, as their cooperation will be essential for extending government funding and operations after midnight on Friday.

Earlier this week, President-elect Donald Trump rejected a bipartisan plan that proposed maintaining funding at $6.2 trillion per year.

Trump demanded a revision of the document to include a provision for raising the debt ceiling. The bill was rejected in the House of Representatives, notes Voice of America.

Johnson stated that the new package will include assistance for disaster victims and farmers, as well as ensure the payment of salaries for federal employees, but did not provide additional details.

Lawmakers' disputes over the debt ceiling are impacting financial markets, as a default by the U.S. government could have repercussions for the global economy.