On February 13, 2008, President Bush signed into law the $168 billion bi-partisan economic stimulus package sent to him by Congress. One part of the three-part package will give tax rebate checks ranging from $300 to $600 per taxpayer, plus $300 for each dependent child in the household. The rebates are limited to individuals with adjusted gross incomes of less than $75,000, and married couples with adjusted gross incomes of less than $150,000. The purpose for the tax rebate is to ease stress on consumers, and to encourage spending.

The second part of the package includes tax incentives for businesses to expand and invest in equipment. It is hoped that giving businesses these incentives will result in employment, further spurring spending and growth.

The third part of the package increases the limits of mortgages that conform to federal guaranty standards.

<font color="blue"> If it has anything to do with future tax bills, then there will be many who receive monies but don't have to share in paying it "back."

It begins to taper off (the amount you get) until you go over the $150,000 for a couple.

(PS. It's best to have your money in an Non-taxable ROTH IRA. Also, you have a period of time to replace the money in an IRA (that you withdrew) so you don't get hit with income tax.)

TC