SCHAUMBURG (CBS) — After two weeks awaiting a final ballot count, U.S. Rep. Melissa Bean on Wednesday conceded the razor-thin race for her 8th Congressional District seat to Joe Walsh.

“Last night, we finally learned what the voters had to say,” said Bean, who lost a bid for a fourth-term to Tea Party candidate Walsh by 291 votes. “We all must respect the outcome. Congratulations to congressman-elect Joe Walsh.”

LISTEN: Newsradio 780′s Bernie Tafoya Reports

Walsh is wasting no time spelling out his priorities.

“We are coming to Washington and we are obsessed with doing what we need to do to create jobs and stop spending,” he said from Washington, where he is going through freshman orientation.

Walsh favors extending the Bush-era tax cuts, supports cuts in corporate taxes and wants the estate tax eliminated.

Bean said she and her staff would make it a priority to ensure a smooth transition for Walsh. Bean thanked her supporters and staff and touted some of her accomplishments in Congress, including passage of Wall Street financial reform.

“We came up a bit short, and we have a lot to be proud of,” she said.

The final count had Walsh with 98,115 votes to Bean’s 97,824.