Democratic leaders in the US Senate and House of Representatives are today working toward wrapping up passage of a $789 billion economic stimulus bill by week's end, as last-minute details were still being worked out.
"I do expect a vote tomorrow," House Majority leader Steny Hoyer told reporters.
The Senate held out hope for a vote late today, but that schedule could slip into Saturday, according to leadership aides.
In a setback for President Barack Obama, however, Republican Senator Judd Gregg said today he is withdrawing as Mr Obama's nominee to be Commerce secretary. "We are functioning from a different set of views on many critical items of policy," the New Hampshire senator said in a statement.
The economic-stimulus bill's backers say the package - a limited victory for Democratic President Barack Obama given robust Republican opposition - will create and save 3.5 million jobs in an economy that has seen massive job losses and is mired in recession.
One congressional aide said the compromise bill, the focus of intense negotiations in recent days, still had some blanks to be filled in. Senate Assistant Majority Leader Richard Durbin said work was continuing on it.
Mr Obama, who has called for fast action on the stimulus to avoid economic "catastrophe," wants to sign it into law within days. But when he does, it will be without the backing of most Republicans, who just three weeks into his presidency, have ignored Mr Obama's call for a more bipartisan spirit in Washington.
Most Republicans have urged bigger tax cuts as the salve for the economy and complained about government spending that they said would not boost the economy.
The stimulus bill is essentially a stopgap to prevent the economy, in recession since December 2007, from spiralling further downward. Separately, the Obama administration is trying to strengthen financial institutions that are at the centre of the economic morass.
While the bill would pump some quick funds into education and health care, it is a mere downpayment on the sweeping changes Mr Obama campaigned on before his November election win.
The president has spent the week selling the package to the US public. He is flying to Peoria, Illinois on Thursday to visit a factory owned by heavy equipment maker Caterpillar Inc, which he has said would be able to rehire some laid-off workers once the stimulus is approved.
Under the compromise bill, negotiators agreed to narrow a tax credit for workers that would now total $400 for individuals and $800 for couples. An earlier version of the bill would have granted $500 and $1,000 respectively.
To help states facing growing budget shortfalls, the House had proposed $79 billion while the Senate had agreed to $39 billion. They compromised at $54 billion including some funds that could be used for modernising schools.
Money for building new schools was stripped out and congressional negotiators also severely cut back tax incentives aimed at boosting flagging home and car sales that were deemed too expensive.
Reuters