Congressional leaders and the Bush administration announced Thursday a compromise economic stimulus package built around rebates for most taxpayers and incentives for business investment.

The measure also would make it easier for homeowners to refinance their adjustable rate mortgage loans into fixed-rate mortgages insured by the Federal Housing Administration.

House Speaker Nancy Pelosi , D-Calif., and Minority Leader John A. Boehner , R-Ohio, called on members of their respective caucuses to line up behind the package so it can quickly be passed by the House and sent to the Senate.

Pelosi, Boehner and Treasury Secretary Henry M. Paulson Jr. , negotiated the deal, which includes rebates ranging from $300 per individual and up to $600 per family for low-income wage earners to $600 per person and as much as $1,200 per family for those with income tax liabilities of at least that much.

“Let us praise this package for what it does and not disrespect it for what it does not,” Pelosi said. “It is timely, it is targeted and it is temporary.”

Added Boehner: “I think it’s a good compromise that will benefit the American people.”

Under the agreement, rebates would go not only to those who pay income taxes but also to wage earners covered by payroll taxes who make too little to owe income taxes. That was a major concession to Democrats, who had demanded that the rebates be distributed as broadly as possible.

The deal also calls for writeoff incentives to businesses to encourage immediate investment in new equipment, and includes provisions to temporarily extend the period over which businesses could use net operating losses from the current downturn to reclaim some taxes paid during the more prosperous recent past.

And it would significantly increase the size of mortgage loans that FHA may insure and that Fannie Mae and Freddie Mac may purchase. Those provisions were designed to help homeowners in the nation’s priciest markets who have been unable to refinance “jumbo” loans that exceed current limits.