U.S. Sens. Susan Collins and Olympia Snowe will meet with President Obama at the White House on Wednesday as senators struggle to fashion a bipartisan economic stimulus package.

Collins said she shares Obama's desire to pass a measure that will stimulate the economy, but she has serious concerns about the $819 billion package that passed the House last week.

She said she was been working with colleagues, particularly U.S. Sen. Ben Nelson, D-Neb., on a smaller, compromise bill that would win broad support.

"In addition to infrastructure investments, I believe the stimulus should include funding to help states avoid cuts in essential health care programs, tax relief for low- and middle-income families, tax incentives to help small businesses, and investments in energy conservation to help create jobs and reduce our dependence on foreign oil," Collins said in a prepared statement.

In a speech from the Senate floor Monday night, Snowe cited a Congressional Budget Office projection that the U.S. deficit will total $3.1 trillion over the next 10 years and pressed the necessity for restraint within the package.

"We must not confuse stimulus with omnibus," Snowe said. "We have a responsibility - an obligation - to apply a rigorous standard to determine whether this approach will help extricate our nation from this crisis. There are no do-overs."

Collins and Snowe, both Republicans, are seen as key votes in the stimulus debate because of their moderate stance and records of working with Democrats.