Deal Reached on Tax Rebates in June

[kst$]

Deal Reached on Tax Rebates in June


By ANDREW TAYLOR,
AP
Posted: 2008-01-24 14:14:37
Filed Under: Recession Watch, Taxes
WASHINGTON (Jan. 24) - Congressional leaders completed a deal Thursday with the White House on an economic stimulus package that would give most tax filers refunds of $600 to $1,200, and more if they have children.
Individuals who pay income taxes would get up to $600, working couples $1,200 and those couples with children an additional $300 per child under the agreement. Workers who make at least $3,000 but don't pay taxes would get $300 rebates.

The rebate part of the plan would cost about $100 billion, aides said. The package also includes close to $50 billion in business tax cuts.

The package would allow businesses to immediately write off 50 percent of purchases of plants and other capital equipment and permit small businesses to write off additional purchases of equipment. A Republican-written provision to allow businesses suffering losses now to reclaim taxes previously paid was dropped.

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http://money.aol.com/news/articles/_...24095609990001

[kst$]

I have to say this is excellent news.....

[carol b]

I am glad to hear they reached a deal. The rest of the country will feel better to I hope. SEND ME THE MONEY! LOL

[javie$]

Thank goodness they finally reached an agreement. Just show me the money. LOL

[moneysense]

I do wonder how many of us will actually get them. Where does this leave the self employed. How will it effect them?