kirbypuckett Posted January 25, 2008 Share Posted January 25, 2008 http://www.cnn.com/2008/POLITICS/01/24/economic.stimulus/index.html WASHINGTON (CNN) -- U.S. taxpayers would get checks of several hundred dollars from the federal government under a plan to stimulate the economy, congressional and Bush administration officials said Thursday.art.pelosi.cnn.jpg House Speaker Nancy Pelosi, Treasury Secretary Henry Paulson, right, and House Minority Leader John Boehner announce the package Thursday. "Tens of millions Americans will have a check in the mail," House Speaker Nancy Pelosi, D-California, said at a Capitol Hill news conference. "It is there to strengthen the middle class, to create jobs and to turn this economy around." House Minority Leader John Boehner, R-Ohio, said, "I'm looking for quick action in the House. I hope that the Senate will follow quickly so that we can put this money in the hands of middle-income Americans as soon as possible."Video Watch what the stimulus package means » Speaking a few minutes later at the White House, President Bush said the package will "boost our economy and encourage job creation." Video Watch Bush praise the plan » Sources on Capitol Hill and at the Treasury Department said the plan would send checks of $600 to individuals and $1,200 to couples who paid income tax and who filed jointly. People who did not pay federal income taxes but who had earned income of more than $3,000 would get checks of $300 per individual or $600 per couple. A Democratic aide and Republican aide said there will be an additional amount per child, which could be in the neighborhood of $300. Those who earn up to $75,000 individually or up to $150,000 as a couple will be eligible for the payments, said Republican and Democratic sources familiar with the tentative deal. Don't Miss * CNN/Money: Deficit expected to reach $250 billion * Bush: 'Common ground' possible on stimulus plan * CNN/Money: Bloomberg: Stimulus plan shortsighted * CNN/Money: Juicing the economy will come at a cost Pelosi said as many as 116 million American families will get a rebate check. Checks could be in taxpayer mailboxes by June, according to an Associated Press report. The agreement includes a robust package of business incentives and help for homeowners facing possible mortgage foreclosures. The Treasury Department still must analyze the numbers to determine the price tag of the stimulus package, sources said. To get to the agreement, Democrats dropped calls for increases in food stamps and an extension of unemployment compensation. Republicans agreed to allow people who pay Social Security taxes but not income taxes to get the checks, sources said. "This package has the right set of policies and is the right size," Bush said Thursday. "The incentives in this package will lead to higher consumer spending and increased business investment this year." He added, "This package recognizes that lowering taxes is a powerful and efficient way to help consumers and businesses." The stimulus package may face resistance from fiscal conservatives in both parties over worries that it would increase the federal debt. Auditors report that the federal deficit -- the difference between what the government takes in and what it spends -- is increasing. The nonpartisan Congressional Budget Office estimated Wednesday the deficit would jump to $250 billion, mainly because of a weakening economy. That estimate does not include any additional spending that would be part of a stimulus package. The proposal is intended to address economic worries stemming from a worldwide credit crunch created by the mortgage crisis and plunging stock markets. The president proposed the package last week. Video Watch a debate on whether the U.S. is heading into a recession » advertisement Officials in both parties credited Paulson, the former Goldman Sachs executive known for a shrewd grasp of the markets, with pushing the package aggressively. "He's been on the phone with practically every member of Congress -- some of them a few times," one Senate Republican aide said. "He's not fooling around." Quote Link to comment Share on other sites More sharing options...
monk0nuggets Posted January 25, 2008 Share Posted January 25, 2008 Is this for real? I will be getting $300 free dollars for making over $3000 this year? If so, that is paying my car payment for a month! Quote Link to comment Share on other sites More sharing options...
monk0nuggets Posted January 25, 2008 Share Posted January 25, 2008 Wait, I paid income taxes! $600 it is! That is awesome. Too bad the US dollar global value is probably going down because of this. Quote Link to comment Share on other sites More sharing options...
vinylme Posted January 25, 2008 Share Posted January 25, 2008 flatscreen here i come. Quote Link to comment Share on other sites More sharing options...
mrc Posted January 25, 2008 Share Posted January 25, 2008 hookers here i come... I mean probably records or something Quote Link to comment Share on other sites More sharing options...
eddieruckus Posted January 25, 2008 Share Posted January 25, 2008 I dont understand how this works, if I made 35,000 this year and I live on my own , am I getting any money for this? Quote Link to comment Share on other sites More sharing options...
flicker Posted January 25, 2008 Share Posted January 25, 2008 i will be ordering goods from overseas online. Quote Link to comment Share on other sites More sharing options...
akross Posted January 25, 2008 Share Posted January 25, 2008 I'm going to save my $600 and buy records with my wife's $600. Quote Link to comment Share on other sites More sharing options...
monk0nuggets Posted January 25, 2008 Share Posted January 25, 2008 I'm going to save my $600 and buy records with my wife's $600. I like that plan. Quote Link to comment Share on other sites More sharing options...
patrick Posted January 25, 2008 Share Posted January 25, 2008 Hmmm.........$2100.......... Probably about $350-$400 on records, the rest to savings. Or a new tv. Quote Link to comment Share on other sites More sharing options...
valentine Posted January 25, 2008 Share Posted January 25, 2008 im going to sell anything great i have by this time on ebay. because everyone will have the extra money to BID HARD. Quote Link to comment Share on other sites More sharing options...
counterfiction Posted January 25, 2008 Share Posted January 25, 2008 hmmmm, $1,200 what to do, what to do . . . . . Quote Link to comment Share on other sites More sharing options...
counterfiction Posted January 25, 2008 Share Posted January 25, 2008 HOOKERS! Quote Link to comment Share on other sites More sharing options...
akross Posted January 25, 2008 Share Posted January 25, 2008 Hmmm.........$2100.......... $2100? How may wives do you have? Damn! Quote Link to comment Share on other sites More sharing options...
thomas Posted January 25, 2008 Share Posted January 25, 2008 I'm going to save it, that way I won't be helping out the economy! Quote Link to comment Share on other sites More sharing options...
aarondanger Posted January 25, 2008 Share Posted January 25, 2008 ill give somone my 600$ and all my test pressings to do my taxes Quote Link to comment Share on other sites More sharing options...
counterfiction Posted January 25, 2008 Share Posted January 25, 2008 ill give somone my 600$ and all my test pressings to do my taxes i'll take that challenge. my wife works at a CPA firm. Quote Link to comment Share on other sites More sharing options...
Guest abravemorning Posted January 25, 2008 Share Posted January 25, 2008 I'm going to save it, that way I won't be helping out the economy! I like this idea. I'll probably be using mine to pay basic bills and living off of if I haven't found a new job by the time I get it. If everything is fine with money for me, I'll probably just buy records. Quote Link to comment Share on other sites More sharing options...
eddieruckus Posted January 25, 2008 Share Posted January 25, 2008 if I get this, its going straight to my car Quote Link to comment Share on other sites More sharing options...
Guest scriptedrain Posted January 25, 2008 Share Posted January 25, 2008 Bills. Quote Link to comment Share on other sites More sharing options...
andrew13 Posted January 25, 2008 Share Posted January 25, 2008 mine's going to either the local comic store or my gas card to pay it off. Quote Link to comment Share on other sites More sharing options...
illusionofchris Posted January 25, 2008 Share Posted January 25, 2008 I'm sure Virgil is going to see alot of this money. Quote Link to comment Share on other sites More sharing options...
Guest scriptedrain Posted January 25, 2008 Share Posted January 25, 2008 I'm sure Virgil is going to see alot of this money. Good point. Quote Link to comment Share on other sites More sharing options...
counterfiction Posted January 25, 2008 Share Posted January 25, 2008 I'm sure Virgil is going to see alot of this money. i third that one Quote Link to comment Share on other sites More sharing options...
corbet Posted January 25, 2008 Share Posted January 25, 2008 Isn't this only for homeowners? Quote Link to comment Share on other sites More sharing options...
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