U.S. Senate leaders have reached an agreement that will likely lead to the passage of pending trade deals with South Korea, Colombia and Panama.

Senate Democratic leader Harry Reid and his Republican counterpart Mitch McConnell announced Wednesday a compromise to renew funding for the Trade Adjustment Assistance (TAA) program and a plan to review bills to ratify the trade pacts when Congress reopens in September.

House Speaker John Boehner welcomed the Senate agreement, saying that a delayed ratification of trade deals is intolerable as the deals will create jobs in the U.S.

Congress will convene on September sixth after nearly a monthlong recess.