NEW: Deal reached on Senate stimulus bill

WASHINGTON (AP) - Senators from both parties are announcing that a deal has been reached to advance President Barack Obama's economic recovery plan through the Senate.

By: Associated Press | WNCT
Published: February 07, 2009

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WASHINGTON (AP) - Senators from both parties are announcing that a deal has been reached to advance President Barack Obama's economic recovery plan through the Senate.

Montana Democrat Max Baucus said "we have a deal" after emerging from a closed-door Democratic caucus tonight. The plan was hashed out between a handful of Republican moderates, Democratic leaders and the White House.

Four senators are taking to the Senate floor to announce details of the agreement, which would cut more than $100 billion from an earlier version of the stimulus package after complaints that it contained too much spending that wouldn't create jobs.

The new measure is expected to be approved in the next few days.

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