The government is giving you some extra money to spend. What will you do with it?
Cash rebates for taxpayers are part of an economic aid plan designed to give a $168 billion boost to the lagging economy.
The legislation, which President Bush plans to sign this week following its quick passage in Congress, 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.
Rebate checks should start showing up in mailboxes in May. They would be based on 2007 tax returns, which are due April 15.
Do you think the plan will work? What do you intend to do with that extra money?
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