What kind of tax rebates would individuals get under the House bill?
House leaders and the White House have agreed to tax rebates worth more than $100 billion for individuals and families. The tax rebates would be: • Up to $600 per person • Up to $1,200 per couple • An additional $300 per child Who would be eligible for a rebate? Under the agreement worked out by House leaders and President Bush, taxpayers earning less than $75,000 and couples earning less than $150,000 in adjusted gross income for the year would receive a rebate check. To be eligible for the income tax rebate, taxpayers would have to have earned at least $3,000 in 2007. The agreement expands the scope of President Bush’s original stimulus plan, which would have limited tax rebates only to those who pay income tax. The new agreement would provide $28 billion to 35 million families who wouldn’t have been eligible under President Bush’s original proposal, according to House Democrats. When could I expect a check in the mail? It’s unclear when a final deal will be reached. Treasury Secreta
