Obama Transition Team Concedes on Energy Tax Breaks

Economic advisers with Barack Obama's transition team told Democratic lawmakers they were willing to boost from $10 billion to $20 billion the amount of energy tax breaks in the administration's forthcoming economic stimulus plan.

Congressional sources confirmed to FOX News the Obama concession came after two days of intense closed-door debate on the contours of the massive bill. The current projected price tag at submission is $775 billion but Democratic lawmakers say the final amount could approach $1 trillion in deficit-financed spending over two years.

In a package that large, a $10 billion alteration doesn't amount to an overhaul. But it does reflect the early ability of Democrats to put their stamp on a measure sure to be as large and quite possibly larger than the financial industry bailout.

That $700 billion law has caused lawmakers - Democrat and Republican - no end of headaches as voters have grown increasingly upset with lax oversight and news accounts of banks taking federal subsidies and using them to beef up cash reserves, pay dividends or bankroll executive bonuses.

"There's a real hangover from the first bailout bill and Democrats want to have their say in this stimulus bill," a senior congressional aide said. "And there's another factor: for four years Democrats have campaigned against a rubber stamp Congress following a president of the same party. Democrats want to engage the Obama team early and prove they won't do whatever the new White House says."

Democrats are pushing for other changes in the stimulus bill such as down-sizing the proposed $3,000 tax credit for companies that keep or create a job. Skeptics in both parties doubt the credit will save or create jobs in an economy where short-term consumer spending forecasts are bleak. Democrats want more of funds currently set aside for the job tax credit directed to infrastructure projects.

Another senior Democrat called the stimulus talks with the Obama team "a work in progress."

Senate Democrats will meet again with Obama's economic advisers following a rare Sunday session devoted to a procedural vote on a long-delayed catchall federal lands bill.

FOX News' Major Garrett contributed to this report.