Reid Senate Vote on Debt Plan Stalls; GOP Votes Not There

In fact, Reid actually voted "no" on his own bill, in an effort to keep the underlying bill alive to bring back later if and when an agreement is reached for the anticipated deal between the White House and Congressional leaders.

"Optimism in days past has been really stomped on at times," Reid said. "As we know, one problem can stop the whole agreement."

The Senate could return to vote on the plan Sunday evening if an agreement is reached.

Meanwhile, Senate Republican leader Mitch McConnell said Sunday negotiators are "very, very close" to a deal to raise the debt ceiling, beating the Aug. 2 deadline.

Some Democrats however, are talking in a more cautious tone. The deal is not yet done, they say.

As McConnell announced in two interviews over the weekend that a deal is close, Sen. Chuck Schumer, D-N.Y., told CNN there is a sense of relief in Washington that progress is being made but that "there is no final agreement" yet on the table.

Schumer later told CBS in an interview Sunday that one of the final sticking points between Republican and Democrat leaders is the creation of a "trigger" mechanism that would strike at priorities of both parties if the bipartisan committee does not come up with a plan for further deficit reduction.

Trigger proposals being discussed include automatically reducing spending on entitlement programs including Medicare along with closing tax loopholes or reducing defense and non-defense programs by an equal amount.

"It should be equally tough on Democrats and Republicans," Schumer said.