10:07pm | Reid speaking now.
“There are negotiations going on at the White House now”
Reid postpones cloture vote until 1 pm Sunday
Reid says there is “still a distance to go before any arrangement can be completed”
Reid says he wants to give both sides room to negotiate a deal to raise the debt limit.
10:02pm | McConnell-Biden talking today.
They have spoken at least four times today — and are rumored to be trying to work out a deal based off the Boehner plan.
The New York Times reports that it may include mandatory cuts to entitlement spending if Congress can’t agree to lower the deficit in a second vote later this year.