Washington ? Congress approved a record $2.27 trillion federal budget Friday, winning a razor-thin Senate victory after GOP leaders promised to limit new tax cuts to half the amount President Bush has proposed.

The deal that won just enough votes to approve the overall budget restricted new tax cuts over the next decade to $350 billion. It was negotiated by Sen. Charles Grassley, R-Iowa, chairman of the tax-writing Senate Finance Committee, and required the vote of Vice President Dick Cheney to break a 50-50 tie.

Having initially sought $726 billion in tax cuts, the White House and House Republicans had reluctantly acceded earlier to tax cuts of $550 billion and were caught off guard by the lower final figure.

Bush issued a statement after the Senate vote reaffirming his commitment to getting the biggest tax cut he can.

“The budget resolution provides for a jobs and growth package of up to $550 billion, and we will work with the Congress to provide the greatest amount of tax relief to stimulate the economy,” he said.

House Speaker Dennis Hastert called Grassley “irrelevant,” saying he has an agreement with Senate Majority Leader Bill Frist of Tennessee that the tax cuts could reach the larger figure when Congress begins working on them in May.

“Our agreement was made with the Senate leadership, and they have the power to keep it,” Hastert said.

The budget language allows for new tax cuts up to $550 billion over the next decade, a figure supported by the House only as part of an effort to win over more senators.

Bush sought $726 billion in cuts, including an elimination of taxes that investors pay on stock dividends, saying that amount was needed to revive the economy.