Deal Reached on House/Senate Compromise

After negotiating sessions that lasted into the small hours of Wednesday morning, Senate and House legislators have announced that an agreement has been reached regarding the size and scope of the final stimulus bill. Details have not yet been released, but Senate Majority Leader Harry Reid, D-Nev., told reporters Wednesday afternoon that major differences between the House and Senate versions of the stimulus have been reconciled.

Early reports indicate that most, but not all, of the Senate's cuts in education funding were preserved in the deal. A Senate proposal for tax credits for home and car purchases has also reportedly been dropped. Stay tuned to the Economic Recovery Grants Center for news and analysis as details of the $789 billion package become available.