U.S. Senate aide says leaders agreed to raise debt limit by $480 billion

WASHINGTON (Reuters) – U.S. Senate leaders have agreed to raise the Treasury Department’s borrowing authority by $480 billion, a Senate aide said Thursday, adding that that amount is what the Treasury Department said was needed to extend the debt ceiling to December 3. The proposal could go to the Senate floor later Thursday.

(Reporting by Susan Cornwell; Editing by Chizu Nomiyama)