Democrats, Republicans agree on a budget deal

Budget battle: Who won?STORY HIGHLIGHTSNEW: House approves the extensionNEW: Obama will sign it into law sometime Saturday, an official saysA temporary measure will keep the government funded through April 15The deal calls for $38.5 billion in spending cuts Washington (CNN) -- Democrats and Republicans narrowly averted a partial shutdown of the federal government Friday night, agreeing on a budget deal and a short-term funding extension little more than an hour before the clock struck midnight and time ran out.

The new funding extension, which cuts spending by $2 billion, will last through next Friday, April 15.

The Senate immediately passed the extension on a voice vote. The House of Representatives followed suit early Saturday morning.

A senior White House official told CNN that President Barack Obama is expected to sign the short term continuing resolution into law later Saturday.

And administration and congressional officials made clear that there would be no lapses in government funding.

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