Bush Tax Rebate 2008

In February of 2008, the United States Congress approved a $168 billion economic stimulus plan to help stave off economic recession. The bill includes tax rebates for many citizens and families, a rescue plan for distressed mortgages, and tax breaks for small businesses. In April 2008, it was announced that the rebate would actually go out a week or so early, thanks to a change at the IRS. The first checks arrived in homes during the last week of April 2008.http://www.usatoday.com/money/perfi/taxes/2008-04-25-tax-rebate-checks_N.htm 

Democrats and Republicans came to an swift agreement on the terms of the stimulus package, which President Bush outlined in his January 28, 2008, State of the Union address.http://www.usatoday.com/money/perfi/taxes/2008-04-25-tax-rebate-checks_N.htm

1. $600 for individuals with incomes of up to $75,000 a year
2. Partial rebates for those earning $75,000 to $87,000
3. Couples: $1,200 for those making up to $150,000 a year
4. Families: additional $300 per child (up to age 17)
5. Partial rebates for couples making between $150,000 and $174,000
6. $300 for low income people—disabled veterans, veterans' widows, senior citizenshttp://www.usatoday.com/money/perfi/taxes/2008-04-25-tax-rebate-checks_N.htm
   

1. Direct deposit payments
   • 00-20: May 2
   • 21-75: May 9
   • 76-99: May 16
2. Paper check payments
   • 00-09: May 16
   • 10-18: May 23
   • 19-25: May 30
   • 26-38: June 6
   • 39-51: June 13
   • 52-63: June 20
   • 64-75: June 27
   • 76-87: July 4
   • 88-99: July 11http://money.cnn.com/2008/01/18/news/economy/rebate_how_it_works/index.htm
     

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