Senate negotiators struck a $780 billion deal on Friday that eases the path for a massive economic recovery program. With amendments, the plan comes to $820 billion \u201d\u201d just $1 billion more than the plan passed by the House late last month, but it differs in several respects.<\/p>\n
The bipartisan compromise, endorsed by three Republican senators, gives President Obama a bare working majority in the Senate. If all Democrats back the plan, as expected, those three Republican votes are just enough to ensure a win, despite strong GOP opposition.<\/p>\n
Key elements of the plan, which cover a vast range of federal spending, include: $116 billion in infrastructure improvements; $88 billion in new funding for education; $40 billion for the development of clean energy; $23 billion for programs to help those most hurt by the economic downturn; and $14 billion for healthcare, including $3 billion to jump-start a plan to computerize health records.<\/p>\n
The plan includes a tax cut of up to $1,000 for working couples. An amendment adopted this week would add a tax credit of $15,000 for home purchases.<\/p>\n