After a partial shutdown of the Federal Aviation Administration (FAA) that left 4,000 transportation and construction workers temporarily furloghed, Congress has reached a bipartisan compromise that after the Senate approved the margin.

The Budget Control Act of 2011 has been sent to President Obama for his signature.

The bill raises the debt ceiling, protects the full faith and credit of the United States, and reduces the budget deficit, according to Sen. Harry Reid (R-Nev.)

The deal would allow the Senate to approve a House bill extending the FAA’s operating authority through mid-September, including a provision that cuts $16.5 million in air service subsidies to rural communities, according to an Associated Press report.

“This lengthy debate left Americans across the country wondering whether Congress would get the job done, or send our economy off a cliff,” Reid says in a press statement issued immediately following the Senate’s approval of the FAA measure. “But in the end, both sides came together. Neither side got everything it wanted, but our nation got a bipartisan compromise that averts an economic catastrophe, and puts us on a path toward fiscal stability. This agreement cuts the deficit by nearly a trillion dollars now and lays the groundwork for Congress to deliver a balanced deficit reduction package this fall.”

“As we craft the next step, Democrats will work to ensure that millionaires, billionaires, and corporate jet owners share in the pain of cutting back. Because that is a pain that millions of middle class families in Nevada and across the country feel every day. We need to do more for them. That is why Washington must now turn its focus back to Main Street, and start creating jobs.

“Today we made sure America will pay its bills. Now it’s time to make sure that all Americans can pay theirs.”

To watch the video, “Reid Leads Senate As Compromise Avoids Fiscal Catastrophe video of Reid, click here.

U.S. Transportation Secretary Ray LaHood said the FAA deal “is a tremendous victory for American workers everywhere.