Even before he took the oath of office, Barack Obama said he wanted to sign legislation that would stimulate the American economy by the holiday marking George Washington’s birthday, February 16.

Today, it appears likely that Obama will meet his goal. The House of Representatives and Senate negotiated an agreement February 11 that merges the legislative bodies’ differing stimulus bills into a single package. The new version, which must be approved by a majority in both the House and Senate, is a $789 billion plan that will increase public spending and provide tax cuts.

Passing an economic stimulus bill has been Obama’s top priority during the first three weeks of his administration. He has promoted his American Recovery and Reinvestment Plan at multiple events, including a prime-time press conference and at town halls in Indiana and Florida.

While not all of Obama’s proposals will make it into the final legislation, it seems the White House is pleased an economic stimulus bill may be signed into law soon. Just moments after Congress announced its deal, the White House posted a short blog entry about it with a one-word title: Progress.