President Barack Obama sits down with congressional leaders this morning in hopes of striking a deal on government funding before the latest extension expires Friday.
Without an agreement, or another extension, a government shutdown could happen. The White House says everyone understands spending cuts are needed, and adds that "significant progress has been made." In case talks fail, Republicans have drafted a one-week extension that includes, among other things, spending cuts totaling $12 billion.
Later Tuesday morning, the president has lunch with Israeli President Shimon Peres.
In the afternoon, Obama meets separately in the Oval Office with CEO Daniel Yohannes of the Millennium Challenge Corporation, and President and CEO Elizabeth Littlefield of the Overseas Private Investment Corporation.