(CNNMoney.com) - After weeks of talks with President-elect Barack Obama's top aides, House Democrats on Thursday released a summary of an $825 billion economic recovery package that calls for $275 billion in tax cuts and $550 billion in spending and aid to states.
House Speaker Nancy Pelosi, D-California, said on Wednesday that she is more confident that Congress would reach the mid-February deadline for getting a bill to Obama's desk.
Obama is scheduled to promote the bill on Friday in Ohio, where he'll speak with workers at a wind turbine factory. The package calls for $54 billion to double production of alternative energy.
Top economic advisers to Obama have estimated that the stimulus plan they laid out, which is largely reflected in the House Democrats' bill, could create between 3 million and 4 million jobs by 2010 across a broad array of industries.
But members of Obama's team and other economists acknowledge that if close to 4 million jobs are created that won't be a panacea for the economy. Rather, it would lead to a lesser rate of unemployment than would otherwise be the case if there was no economic recovery package.
- CNN congressional producer Deirdre Walsh contributed to this report.