(Reuters) - President George W. Bush offered some general ideas on Friday about what he would like to see in a package to shore up the U.S. economy. He and the Democratic-led Congress are trying to reach a deal on the specifics.

Here are highlights of the approaches favoured by each side.

BUSH'S VIEWS ON STIMULUS

* Bush is seeking a package of tax cuts for families and businesses that would total between $140 billion (72 billion pounds) to $150 billion. The White House says the plan would create around 500,000 jobs.

* The president wants the package to emphasize "broad-based tax relief" rather than spending. His aides contend a plan based on broad tax cuts would inject money into the economy quickly because it would be simpler than reductions targeted at people based on their incomes.

* The tax relief Bush favours would include tax rebates for families and individuals as well as temporary tax breaks that would give businesses incentives to invest in new equipment.

IDEAS FAVORED BY CONGRESSIONAL DEMOCRATS

* Many Democratic lawmakers are also comfortable with plans in the range of $150 billion.

* Democrats would target tax rebates toward poor and middle-class people.