Bush Tax Rebate , Economic Stimulus Update
Congress Sends $168 Billion Economic Stimulus to Bush (Update2)
By Alison Fitzgerald and Brian Faler
Feb. 8 (Bloomberg) — The U.S. Congress passed and sent to President George W. Bush a $168 billion economic stimulus package that he said is needed to help boost the slowing economy.
The legislation would send tax rebate checks to more than 111 million households, probably beginning in May. Lawmakers yesterday altered an earlier plan by making 20 million senior citizens and 250,000 disabled veterans eligible for the rebates. Bush said he will sign the measure.
“I want to thank the members for passing a good piece of legislation, which I will sign into law next week,” Bush said today in a speech to the annual Conservative Political Action Conference in Washington.
In addition to the rebates and incentives for businesses to invest in new equipment, the measure increases the size of mortgage loans that government-chartered mortgage-finance companies Fannie Mae and Freddie Mac can buy.
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Just wanted to mention the highlights.
1. The bill went from $150 billion to $168 billion.
2. Benefits for the elderly and disabled veterans. This is where the extra money went and I agree.
3. They did not reduce benefits for those paying income tax as the Democrats were proposing to offset the unemployment extension of benefits.
They did not extend benefits for unemployment as to not hold up the bill. Though are going to continue to try which is annoying. If you can’t get a job after 24 or 26 weeks you aren’t looking. In closing, “WHERES MY CHECK!!!”