In a Tweet that criticized Senate Democrats for "self-created debt limit crisis" Sen. McConnell (R-KY) - the Senate minority leader - offered a temporary and limited way out of the immediate crisis.
McConnell offered to have the minority Republicans provide voting support to pass a pre-determined increase in the ceiling that will prevent default till some time in December. This is supposed to provide ample time to Sen. Schumer (D-NY) - the majority leader - to craft and shepherd through Congress a longer-term increase (again a specific amount) through the Reconciliation process. He also offered to make the December Reconciliation process for raising the Debt Ceiling a easy one which is likely a reference to the extended amendment process and attendant vote-a-rama; however, that might not be entirely in his control given how some Republican Senators like grandstanding when it comes to the national debt.
It is not clear as to why December was his choice; picking the middle or end of January would have allowed for Christmas to be enjoyed by everybody without this cloud hanging over the world.
The only reaction available so far is from Sen. Hirono (D-HI) who called the offer "bullshit."