Breaking: Deal reached on economic stimulus plan

Moving with remarkable speed, the White House and House leaders reached an agreement today for an economic stimulus package that provides tax incentives for businesses and stipends for families to encourage spending. The tentative deal calls for roughly $150 billion to shore up a weak economy. It would give businesses one-time incentives to invest in new equipment and write off tax losses. It would give rebates of $300 to $1,200 per family. The Senate still must agree to the plan. Democratic leaders promised to move the stimulus package with warp speed, bypassing the usual committee process which has been known to slow down important legislation by months. Lawmakers want the plan approved in mid-February. They said it would be strong enough to soften an economic downturn and avoid a recession.

For more on the economic stimulus deal:

- Check out this Washington Post article