WASHINGTON (Reuters) - Democrats and Republicans in the U.S. Senate have reached a tentative deal on an election-year economic stimulus plan that would send government rebate checks to millions of Americans, Senate Finance Committee Chairman Max Baucus said on Thursday.
"I think there will be an agreement to add the 20 million seniors and the disabled vets" to the bill already passed by the House of Representatives that would give rebate checks to millions of Americans, Baucus told reporters.
Asked whether the Senate deal was now in place, the Montana Democrat said, "essentially."
Baucus said the Senate could vote as early as Thursday on the package, which would send rebate checks to consumers within months in the hope of giving them and businesses money to embark on a spending spree. Washington hopes more spending would help jolt a sagging U.S. economy.
The House-passed bill provided for one-time checks of up to $600 for individuals and $1,200 for couples, plus $300 per child. It was unclear whether the Senate compromise would strictly adhere to those levels.
Senate Republicans on Wednesday blocked a broader Democratic stimulus package that also would have extended jobless benefits for the long-termed unemployed.
House Speaker Nancy Pelosi told reporters her chamber would act quickly once the Senate approves its version of a stimulus bill and send the compromise to President George W. Bush for his expected signature.
While she said she supports help for the long-term unemployed, she said that could be achieved with other legislation. "There's no reason for any delay" of the economic stimulus bill, Pelosi told reporters.
"The sooner we get this done, the sooner the checks will be in the mail," Pelosi said.
Pelosi said the House would act on a Senate-passed bill by next week.
(Reporting by Donna Smith and Richard Cowan; Editing by James Dalgleish)
