They made the announcement after a three-hour meeting at a Makati hotel on possible constitutional changes and the mode of effecting them.
"We are moving towards a consensus," Speaker Jose de Venecia Jr. told reporters after the meeting.
"This is just an exploratory dialogue. A few more meetings and we will be there," he said.
De Venecia led the House panel that included Deputy Speaker Raul Gonzalez and Representatives Antonio Eduardo Nachura of Western Samar and Willie Villarama of Bulacan. Nachura chairs the House committee on constitutional amendments.
The Senate panel was composed of Senators Edgardo Angara who is Nachuras counterpart, Robert Barbers, Aquilino Pimentel Jr. and Vicente Sotto III. Senate President Franklin Drilon was invited to the meeting but chose not to attend because he had a one-on-one dialogue with De Venecia on Monday.
Sharing De Venecias assessment of their exploratory meeting, Angara said senators and congressmen "share a common vision for our country."
Angara said the two panels discussed proposed constitutional changes before tackling the manner of effecting them.
He said they agreed on three things: that elections will definitely be held next year under the present Constitution or under a rewritten Charter, that there will be no term extension for incumbent elective officials, and that there will be an eventual shift to federalism even if the present presidential system is shifted to a parliamentary form.
"These proposals are not entirely new, and an agreement should therefore be relatively quicker," he said.
Asked about a timetable for constitutional changes, Angara said the target is "within this year."
As for the mode of effecting such changes, he said more and more people are for the least expensive mode, which is converting Congress into a constituent assembly to do the rewriting.
For his part, Pimentel said the two panels "tried to reach but has not arrived at a consensus on anything."
"What is encouraging is that we are willing to talk, to give and take," he said.
He said he is for holding elections next year, against a term extension for incumbent officials, and for a federal form of government.
De Venecia said an elected constitutional convention is the "fashionable and romantic way of introducing Charter changes, but we cannot afford the huge cost involved at this time."
Besides, he said if the convention mode is chosen, constitutional reforms would have to wait until 2006 before they are affected.
"The nation cannot wait that long. There are too many structural difficulties that need to be eased so the country can move forward. If we wait for nine years or 10 years, baka masyado na tayong lugmok at hindi na tayo makakabangon," he stressed.
He said the two panels would meet again on Monday.
As for his dialogue with Drilon, De Venecia said "it was a very constructive and positive session."
He said Drilon, who heads the ruling coalition in the Senate, proposed that senators should vote according to their conscience and not along party lines.
"We intend to meet again," he added. With Paolo Romero