Obama Presidency

House and Senate Reach Agreement on $789 Billion Stimulus

| by DeepDiveAdmin

WASHINGTON --- U.S. House and Senate leaders agreed Wednesday on a scaled down stimulus plan that would cost approximately $789 billion. The bipartisan agreement is a compromise between the House's $819 billion stimulus plan and the Senate's $838 billion version passed yesterday.

"The middle ground we've reached creates more jobs than the original Senate bill and spends less than the original House bill," said Senate Majority Leader Harry Reid in a press conference. Reid thought the plan could be put to a vote on the Senate floor as early as tomorrow.

However, some details of the agreement have yet to be ironed out, most notably funding for school construction, which the House strongly endorses but the Senate has so far tried to limit.

Lawmakers are hopeful that a final version of the agreement will be completed Wednesday night.

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