WASHINGTON (Reuters) - A bipartisan plan to raise the debt ceiling will be presented to Democrats and Republicans on Monday, Senate Majority Leader Harry Reid said on Sunday.

"Leaders from both parties and in both chambers will present this agreement to our caucuses tomorrow," Reid said.

"To pass this settlement, we'll need the support of Democrats and Republicans in both the House and Senate. There is no way either party, in either chamber, can do this alone."

(Reporting by Kim Dixon, Rachelle Younglai)