Details On The Tax Rebate Checks
75Tax Rebate Checks Approved By Both Houses Of Congress
Feburary 8, 2008
Both the House and Senate have overwhelmingly approved the bill that will attempt to stimule the United States economy with a $170 billion cash infusion plan.
The White House is expected to quickly approve the plan.
The bill provides for tax rebate checks for approximately 117 million households, 20 million senior citizens, and about 250,000 disabled veterans.
Single filers making less than $75,000 stand to get a check from the government for up to $600. Couples earning less than $150,000 will recieve up to $1200. parent will get $300 per child.
The IRS will begin sending checks out in May and continue throughout the summer.
The bill also includes help for small businesses and home owners. Business owners will be able to temporarily expense 50% ,ore assets that they put into use in 2008. Home owner will be helped by the increased caps on Freddie Mac and Fannie Mae loan ceilings. the ceiling will be raised from it's current $417,000 ceiling to nearly $730,000 in the highest housing markets. source
More Information About The 2008 Tax Rebate Checks
- About the 2008 IRS Tax Rebate Checks
Detail on the 2008 Tax Rebate Checks. - Treasury chief: Tax rebate checks to go out in May
Treasury Secretary Henry Paulson says the checks will begin to go out in May. - IRS warns of e-mail, phone scams on tax rebates
Already the scammers are out there trying to cheat you out of your rebate. Beware! - Strategies To Get Even More
Tax strategies to help you qualify for a larger check.
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Voice Your Opinion On The 2008 Tax Rebate!
Yahoo - Home Page!!! It's Gonna Be a Great Day...Congrats!!
What is Stagflation? How will the Rebates effect the economy?
I think it will help this year. But what about the years to come? It just sounds like too quick of a fix. Interestingly enough the prices of stamps increasing again. Sounds a little fishy to me. Possibly the two things working together? We all know the Government is give and take. People really think this will help? I think not. Something better than this would be the senate to urge businesses and developements to open their doors to people looking for work.
bryanmader - Yes another quick fixer. Basically it's just offsetting higher fuel prices... glad to be receiving it don't get me wrong however, I don't see this as a long term solution either. ~ Peter
Thanks, this is helpful. With the rebate I may break even this year.
I agree Peter. They should have done more with the cost of living. Witch the gas falls into that category. The price of wheat is rediculous! Almost trippled the price just for a bag of Wheat Thins! Not only that, the price of meat took a big flip backwards.
Hi, I don't know that agree with the concept of more from the government. We are just taking a credit, borrowing on next yers tax returns....! Good hub though, offers a different perspective that is for sure!
Here's What The Tax Rebate is Supposed To Do
Will The Economic Stimulus Plan Work As Intended?
The current stimulus plan is intended to boost the U.S. economy - but will it work as intended?
$170 billion sounds like a lot of money. Putting that amount of cash into the hands of the free spending American consumers surely will help, won't it?
Well, probably not. The truth is that the U.S. economy is so vast that even this amount is just a drop in the bucket. Where the tax rebates may have an effect is in consumer confidence. The checks may change the psychology and cause spenders to be more optimistic and spend more freely.
According to many economists, we may not be headed for a recession anyway. Many feel we will skirt a recession and have a period of very slow growth. The ecomony will just have to work it's way throuygh this slow period before better times arrive.
But, in the final analysis, $170 billion more dollars will be in the hands of the American citizenry and out of the hands of the politicians. And that's a good thing no matter what the technical state of the economy. At least that's my opinion.
Bogey047 says:
2 years ago
i hope the rebates do the trick.