Wednesday saw the major disagreements over the package get resolved during the negotiations. Harry Reid, the Senate majority Leader prematurely announced that a final negotiation was reaches while Nancy Pelosi later had it made public that they still needed to discuss the matter of education.

Money was originally intended to construct schools, but was later changed to modernize and improve schools. A total of $54 billion has been set aside for the improvement of schools.

President Obama issued a thank you to both Democrats and Republicans form completing the compromise. Furthermore, Obama announced that this plan would help create over 3.5 million jobs and fix the economy.

The Senate and the House have met the deadline goal of the end of this week.

In the end, only three of the 219 Republicans in Congress voted for the passing of the bill.

The final version of the bill will cost a total of $789 billion and create more jobs than previously intended.

The final version is expected to feature a homeowner tax credit, a tax credit for those who purchase a car in 2009, tax breaks for workers of $800 for families and $400 for individuals, and is 35% tax cuts and 65% spending.

With the Economic Stimulus Package finally passed in Congress and being prepped for the signing by President Obama, there is only one remaining question. How well will it work?

Obama went on to do some criticizing of his own. He proclaimed that all those who claimed the policies of tax cuts over the last eight years were the way to go were wrong. He expressed his belief in new ideas and new progressions.

Obama went on to listen to critiques of the stimulus package and said that hearing the opinions help the plan get better. However, President Obama did mention the cruciality of getting the bill passed as quickly as possible.

Many argue that the stimulus package is just $800 billion being spent and will not really help the economy. Obama went on to refute those claims and say how everything he is doing is with the intent of getting the United States out of debt.

Obama firmly stressed the fact the longer the bill isn’t passed, the deeper the economic troubles will grow.

Obama also held a meeting to discuss the current situation of the bill in the Senate with the Democratic congressional leaders. The meeting was said to be very productive and that the Democrats agreed on how vital it was for them to quickly get a bipartisan agreement on the package.

It was said that Obama told his team to remove whatever needs to be cut in order to reach that bipartisan agreement.

The Senate is expected to vote on the list of amendments to the bill on Tuesday afternoon.

The goal is to have it complete by the end of the week so the House and Senate can work together on a final draft to present to President Obama.

One difference between the House and Senate versions is that the Senate’s plan would total a cost of $884.5 billion over the next ten years. Furthermore, the Senate’s version would place $694 billion into the economy by the end of 2010.

Republicans believe that their ideas will be listened to and taken into account based on Obama’s recent actions and outreach to them.

February 13th is the set deadline for finalizing a bill to put in front of President Obama.

The final vote for the passing of the package was 244 to 188. Only eleven Democrats did not vote for the bill that will probably be taken up by the Senate this upcoming week.

However, Obama wants the plan to be improved and made as strong as it can before it is finalized and on his desk for signing. President Obama strongly believes that this plan will be very beneficial for Americans, “We must move swiftly and boldly to put Americans back to work, and that is exactly what this plan begins to do.”

The Democratic representatives in the House highly advocated the plan’s potential to quickly revitalize the economy and produce numerous new jobs.  But the resistance by the House Republicans still remains strong. The Republicans are expressing their disturbance at the amount of money that the bill entails to spend. They claim that tax relief is the most effective way to fix the current economic crisis.

After meeting with both Democrats and Republicans, Obama and his team did their best to construct a plan that would please everyone. The final stimulus package resulted with $212 billion in tax cuts and $607 billions going directly to different entities throughout America.

Next week, the Senate will vote on its version of the bill. To pass in the Senate, 60 out of the 80 votes are needed. Thus, a minimum of two Republicans must vote for the passing of the plan.

In the end, the goal of both Democrats and Republicans is to finalize the bill and have it on President Obama’s desk by Presidents Day.

Before meeting with his economic team, President Obama discussed the current economic situation in his weekly Internet and radio address. The portrayal of the economy given was quite negative as Obama stated the situation to be an “unprecedented crisis.”

Obama said that quick action was needed and with his $825 billion stimulus package, he expects that over the next few years, nearly 4 million jobs will become available.

As reported by CNN, Obama’s plan includes three steps, “Stabilize the financial system, fix market regulation and pass the stimulus plan.”

A vote on the proposed package will be held on Wednesday. February 16th is not only Presidents Day, but also the day Obama expects the plan to be on his desk ready for his signing. Obama even mentioned that, for the benefit of taxpayers, a website will be available for citizens to see exactly how their taxes are being spent.

Despite the promotion given to the plan by Obama, not everyone on the same page with him. Democrat Kent Conrad, the Senate Budget Committee Chairman from North Dakota is still unconvinced about the number of jobs that will open up. Part of his concern lies with the fact that the projection for jobs is based on the economic system functioning normally.

The majority of the nation believes that it will take at least two years for the United States to make a full recovery from the current recession.

Furthermore, John Boehner, the House Minority Leader says that most Republicans do not see the plan as actually helping create jobs and maintaining jobs.  One of those Republicans is Senator John McCain, who has already stated that he is opposed to the current plan.