Update at 11:21 a.m. ET: Senate Majority Harry Reid, speaking on the Senate floor, said an agreement had been reached on spending cuts, but that the issue of women's health, a reference to the dispute over funding Planned Parenthood, was the sticking point.

Reid said "now the Tea Party among others, they are the biggest push, is trying to push its extreme social agenda, issues that have nothing to do with funding the bill."

More from our colleagues at On Politics and The Oval.

Earlier post: Only hours before a possible government shutdown, House Speaker John Boehner indicated no agreement had been reached, saying that Senate Democrats should do "the responsible thing" and pass the House budget bill.

"When will the White House and Senate Democrats get serious about cutting spending?" the Ohio Republican said.

Only moments later, Senate Majority Leader Harry Reid said on the Senate floor, "We're very hopeful we can reach agreement on the budget today."

Reid told reporters earlier today that both sides had agreed on a spending cut of $38 billion, but that a fight over federal dollars for Planned Parenthood is blocking a deal. Boehner's aides have denied that.

Boehner and Reid failed to reach a breakthrough during their meeting late Thursday with President Obama at the White House.

Obama had called upon both sides to give him a response this morning on whether they could bridge their differences and avoid a shutdown.