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.
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.