From the Wall Street Journal:
Congress reached an agreement in principle on a $700 billion package to bail out the financial industry, leaders from both parties said Thursday. They plan to present the deal to the White House later Thursday, hoping for a vote within days. Lawmakers said there were few hurdles remaining. “There really isn’t much of a deadlock to break,” said Democratic Rep. Barney Frank, chairman of the House Financial Services Committee. Republican Sen. Bob Bennett said the plan is one that can “pass the House, pass the Senate (and) be signed by the president.”
Update: Kevin Smith, a spokesman for House Minority Leader John Boehner, cautions that Republicans in the House haven’t signed on to anything yet.
Update (H/T: Hot Air): All but dead? McCain’s campaign is calling the deal “all but dead“. Boehner’s spokesman says the deal is “non-starter“. And it looks like Paulson also thinks the deal may collapse.