Congress Unveils Economic Stimulus Deal
January 24, 2008 | 5:08 pm | by t-blender |Rate It:
yahoo news: WASHINGTON - Congressional leaders announced a deal with the White House Thursday on an economic stimulus package that would give most tax filers refunds of $600 to $1,200, and more if they have children.
President Bush praised the agreement in a statement he delivered to reporters at the White House. “This package has the right set of policies and is the right size,” he said.
The rebates, which would go to about 116 million families, had appeal for both Democrats and Republicans. Pelosi’s staff noted that they would include $28 billion in checks to 35 million working families who wouldn’t have been helped by Bush’s original proposal. Republicans, for their part, were pleased that the bulk of the rebates — more than 70 percent, according to an analysis by Congress’ Joint Tax Committee — would go to individuals who pay taxes.
Individuals who pay income taxes would get up to $600, working couples $1,200 and those with children an additional $300 per child under the agreement. Workers who make at least $3,000 but don’t pay taxes would get $300 rebates.
So…in essence we are going to borrow $150 billion dollars from China so we can buy more Chinese crap? Go Walmart Go!