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But the compromise also reduced a $15,000 tax credit for homebuyers for which Republicans fought, said House Ways and Means Committee Chairman Charles B. Rangel, New York Democrat.

The compromise includes Mr. Obama’s signature tax cut for middle- and low-income taxpayers, a central plank of his presidential campaign. It also includes massive amounts of new spending, and aid for those hurt by the recession in the form of jobless benefits, food stamps, health coverage and aid to state and local governments facing declining revenues.

Earlier, a deal announced by Mr. Reid was called into doubt when House Democratic leaders did not show up for the conference committee meeting.

The meeting had to be postponed for about three hours while Democratic leaders ironed out differences over spending in the bill, including $16 billion for school construction that House Speaker Nancy Pelosi, California Democrat, desperately wanted added to the final package.

The line item for school construction and renovation was not included, but a general account for aid to states that could go to school projects was boosted from the Senate’s mark of $39 billion to $54 billion.

“We have come to an agreement with the Senate as to how we will go forward and I think people are happy about that,” Mrs. Pelosi said after meeting with the Democratic Caucus.

The deal still must be formally ratified by the House-Senate conference and approved by both chambers.

Three Republican senators who provided the key votes for passage of the Senate bill - Sens. Arlen Specter of Pennsylvania, and Susan Collins and Olympia J. Snowe, both of Maine - endorsed the tentative compromise, virtually ensuring it will pass the chamber.

No House Republicans voted for the original bill.

“The time has come to bring everybody together,” Mrs. Snowe told reporters.

House Minority Leader John A. Boehner, Ohio Republican, said the agreement appeared to fall far short of a bipartisan bill.

“I’ve got to tell you that with everything I’m hearing about this so-called deal, I’m very disappointed,” Mr. Boehner said. “It appears that congressional Democrats have made a bad bill worse by reducing tax relief for working families to pay for more wasteful government spending.”