Congress puts rebate checks in the mail|[02/08/08]
Published 12:00 am Friday, February 8, 2008
WASHINGTON — Congress, facing the prospect of an election-year recession, passed an emergency plan Thursday that rushes rebates of $600 to $1,200 to most taxpayers and $300 checks to disabled veterans, the elderly and other low-income people. President Bush indicated he would sign the measure.
House passage by a 380-34 vote came a few hours after Senate leaders ended a stalemate. The plan adds $168 billion to the deficit over two years.
Rebate checks could begin arriving in May.
The legislation would deliver rebates — $600 for individuals, $1,200 for couples — to most taxpayers, plus an additional $300 per child. Individuals making up to $75,000 a year and couples earning up to $150,000 would get the full rebate, with those making more than that or too little to owe taxes getting smaller checks.
People who paid no income taxes but earned at least $3,000 — including through Social Security or veterans’ disability benefits — would get a $300 rebate.