http://finance.yahoo.com/marketupdate/overview?uIndividuals who earn up to $75,000 will be eligible for a $600 check and couples who earn up to $150,000 will be eligible for $1200, according to reports and Paulson's comments. Individuals who do not pay income tax, but have earned more than $3000 will be eligible for a $300 check. Parents will get $300 per child. Businesses will get $50 billion in tax cuts.
http://news.yahoo.com/s/ap/20080124/ap_ … imulus_416WASHINGTON - Congressional leaders announced a deal with the White House Thursday on an economic stimulus package that would give most tax filers refunds of $600 to $1,200, and more if they have children.
House Speaker Nancy Pelosi said Congress would act on the agreement — hammered out in a week of intense negotiations with Republican Leader John A. Boehner and Treasury Secretary Henry Paulson — "at the earliest date, so that those rebate checks will be in the mail."
President Bush praised the agreement in a statement he delivered to reporters at the White House. "This package has the right set of policies and is the right size," he said.
The rebates, which would go to about 116 million families, had appeal for both Democrats and Republicans. Pelosi's staff noted that they would include $28 billion in checks to 35 million working families who wouldn't have been helped by Bush's original proposal. Republicans, for their part, were pleased that the bulk of the rebates — more than 70 percent, according to an analysis by Congress' Joint Tax Committee — would go to individuals who pay taxes.
Individuals who pay income taxes would get up to $600, working couples $1,200 and those with children an additional $300 per child under the agreement. Workers who make at least $3,000 but don't pay taxes would get $300 rebates.
The rebates, expected to go out in June, would cost about $100 billion, aides said. The package also includes close to $50 billion in business tax cuts.
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