Feb 8 (Reuters) - The U.S. Congress is weighing two versions of an economic stimulus package of tax cuts and spending programs that are aimed at pulling the U.S. economy out of its downward spiral.
Here's what is expected to happen next:
* The Senate is expected to vote at about 5:30 p.m. EST (2230 GMT) on Monday to limit the debate on the stimulus package. Democrats, who control the Senate with 58 seats, need 60 votes to end debate and they have picked up support from at least three Republican senators.
* The Senate on Tuesday is expected to vote on an amendment to slim down its version to roughly $827 billion from $937 billion. It is expected to pass with support from Republican Senators Susan Collins, Arlen Specter and Olympia Snowe.
* If the Senate approves the legislation, likely to happen on Tuesday, it will need to be reconciled with the different version that passed the House of Representatives with a $819 billion price tag. A group of lawmakers from each chamber will be appointed by party leaders to resolve the differences.
* Lawmakers will have to sort through scores of differences, from spending priorities to various tax cuts and incentives, a process that could take several days or longer.
* Amid the votes and negotiations, President Barack Obama will travel to two cities hit hard by the ailing economy -- Elkhart, Indiana on Monday and Fort Myers, Florida on Tuesday -- to hold town meetings where he will try to build support for the stimulus package.
* Once a compromise is reached between the lawmakers, the House and Senate would again have to vote on the final version before it could be sent to the president for his signature or veto. (Reporting by Jeremy Pelofsky in Washington, editing by Jackie Frank and David Wiessler)