What is the Economic Stimulus Package of 2008?
The Economic Stimulus Package of 2008 was an ambitious bill passed by the United States Congress in an attempt to address the faltering American economy. The goal of the package was to stimulate consumer spending and encourage businesses to expand, hopefully creating more jobs and further jump-starting the economy. Supporters of the legislation believed that it would bolster the economy and perhaps prevent a recession, or at least reduce the impact of a recession on the American people. Detractors raised concerns about whether the package was a sound financial move, out of concerns that it would increase the national debt. Americans were most interested in the section of the Economic Stimulus Package which created rebates on tax returns, based on 2007 declared income. For anyone with no tax liability earning at least $3,000 US each year, the rebate would be $300, and doubled for couples filing jointly, while people making less than $75,000 US with tax liability would get rebate checks
