Bush Enacts Economic Aid Package

[sandance2]

President Bush signed legislation Wednesday (today) to rush rebates ranging from $300 to $1,200 to millions of people, the centerpiece of government efforts to brace the wobbly economy. First, though, you must file your 2007 tax return. More than 130 million people are expected to get the rebates, starting around May. Come on May!

[CHEF GIRL]

I really thought that it was all included with you file you taxes but I guess I was wrong. So it does start in May? I have heard it comes in July, or August. Who qualifies for what? and what do they quailify for?

[armywife1314]

(WASHINGTON) — President Bush on Wednesday signed a multibillion-dollar economic rescue package on Wednesday that means $300 to $1,200 rebates for many American households.

Bush called the measure "a booster shot for our economy" to stave off a recession.

Several dozen members of Congress, including House Speaker Nancy Pelosi, stood on the stage behind Bush as he signed the bill.

Rebates are to go out beginning in May to taxpayers and low-income people, including seniors living off of Social Security and veterans who depend on disability checks. Businesses would get tax breaks for investing in new plants and equipment.

Most taxpayers will receive a check of up to $600 for individuals and $1,200 for couples from the Internal Revenue Service, with an additional $300 per child. People earning at least $3,000 and those who owe little or no taxes would get $300 for singles, $600 for couples. Those making more than $75,000 and couples with income exceeding $150,000 are to get smaller rebates — $50 less per $1,000 they make over those thresholds.

[CHEF GIRL]

Hip Hip Horay for that, getting any money back is great and hopefully they we will start recieveing checks in May althought I heard we weren't going to get anything until July?? That's my vacation money to go to Puerto Rico