FACTBOX: Details of tentative deal on economy package

(Reuters) - President George W. Bush and the Democratic-led Congress have reached a tentative deal on a fiscal package aimed at staving off a recession in the troubled U.S. economy.

Here are some details of the plan.

* The $150 billion plan is worth about 1 percent of the U.S. economy's size and would include tax rebates for individuals and families as well as incentives for business investment.

* Individuals would get rebates of up to $600 and married couples could get up to $1,200. Individuals with annual incomes above $75,000 in adjusted gross income (AGI) or married couples making $150,000 in AGI would get less depending how high their incomes are above those thresholds.

* The plan also includes a provision that Democrats had sought that would allow some low-income workers who do not earn enough money to owe income taxes to receive a check. Those who made at least $3,000 last year and paid no income taxes would be eligible for a check of up to $300 for individuals and $600 for married couples.

* As an incentive to encourage business investment, firms would be able to immediately deduct 50 percent of the costs of purchases of new equipment. Also, businesses would be able to write off more of their current losses against previous tax years.

* The package is expected to include raising the limits on 'conforming mortgages' financed by Fannie Mae and Freddie Mac to $625,000 from the current cap of $417,000. The limit could go as high as $700,000 for homes in higher cost metropolitan areas. Such a move is expected to lower the interest rates on those high-cost loans.

(Reporting by Richard Cowan, Donna Smith, Caren Bohan, John Poirier and Patrick Rucker; Editing by Philip Barbara)