what Evangelicals and Catholics (hopefully) have in common: a Biblical view of Justification

From Evangelicals and Catholics Together in 1998 (again, from the First Things' 20th anniversary edition)...

Justification is central to the scriptural account of salvation, and its meaning has been much debated between Protestants and Catholics. We agree that justification is not earned by any good works or merits of our own; it is entirely God's gift, conferred through the Father's sheer graciousness, out of the love that he bears us in his Son, who suffered on our behalf and rose from the dead for our justification.