President Bush signed a $168 billion economic stimulus package on Wednesday that will extend rebates to U.S. taxpayers, give tax breaks to businesses and make more-expensive mortgages available through the government and government-sponsored mortgage-finance companies.We have come together on a single mission and that is to put the peoples' interests first,” Bush said at a White House signing ceremony. He was flanked by members of Congress and his cabinet.
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Bush said the U.S. economy has clearly slowed but that the package is “a booster shot for our economy.”
Approved by lawmakers last week, the package provides a tax rebate of up to $1,200 per working couple, plus $300 per child.
So the stimulus package has passed. What does this mean for the average citizen? For my wife and I it means that we'll be getting about $1200 back in a check sometime in the next few months (checks start going out in May). To find out what your rebate will be go to Kiplinger.com's rebate calculator.
For a more detailed discussion of the tax rebates, and who will qualify, read the San Francisco Chronicle article detailing the stimulus package.