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January 25, 2008
President and Congress Agree on Economic Stimulus Package
President George W. Bush and the U.S. House of Representatives announced that they've reached a bipartisan agreement that aims to stimulate the economy by pumping $100 billion in temporary relief to middle and lower class Americans.
The economic stimulus package includes tax rebates—ranging from $600 to $1,200—for single taxpayers making under $75,000 and married couples with a combined household income that's lower than $150,000. Americans eligible for the relief also will receive $300 per child.
The bipartisan package also hopes to jump start the economy and create jobs by changing the tax code and giving businesses the opportunity to deduct new equipment expenses.
Posted by S. Germain at January 25, 2008 08:25 AM