Senate Majority Leader Harry Reid announced Wednesday afternoon that congressional leaders have finally agreed on a $789 billion economic stimulus package, pushing the plan to a final House and Senate vote by Friday at the earliest.

L.A. Times:

Congressional negotiators are closing in on a final version of a sweeping economic recovery package, and the bill could be voted on by both the House and Senate by Friday.

Multiple sources have confirmed that the new plan is budgeted at $789 billion, a figure smaller than in the bill that emerged from the House last month and the one approved by the Senate on Tuesday.

It appears that House Democrats have succeeded in restoring some funds that were stripped out by a group of Senate moderates last week, including $44 billion in aid to struggling state governments and $6 billion for school construction and modernization. Both line items were important to the White House.

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#barack obama#capitalism#congress#democrats#economic crisis#harry reid#house of representatives#senate#stimulus#subsidies