February 8, 2008
House & Senate Pass Economic Stimulus Bill
The House (380-34) and Senate (81-16) yesterday voted to send the economic stimulus bill (H.R. 5140) to President Bush for his signature.
- Statutory Language
- Senate Finance Committee Press Release
- Senate Finance Committee Staff Summary
- Joint Commiitee on Taxation Technical Explanation
- Joint Committee on Taxation Distributional Effects
- Joint Committee on Taxation Revenue Estimate
- House Ways & Means Committee Press Release
- House Ways & Means Committee Staff Summary
- Statement by President Bush
- Statement by Treasury Secretary Paulson
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Tracked on Feb 8, 2008 9:48:17 AM
So, should I plan to set aside a third of this to cover taxes?
Posted by: Scott Kirwin | Feb 8, 2008 12:32:52 PM
One thing I'm genuinly curious about--does this count as income that we'll have to pay taxes on next year?
Posted by: Victor | Feb 8, 2008 12:34:03 PM
No, it won't be taxable income on your federal return.
Posted by: Joe Kristan | Feb 8, 2008 2:35:26 PM
I understand that this so called "rebate" is not taxable income - but - isn't it just an advance of my estimated 08 tax refund? Thanks
Posted by: George M. | Feb 10, 2008 12:51:21 PM
Ok, so a parent gets $300 for a 17yr old this yr & that child becomes his own deduction for 2008 taxes. Will he then get this credit sent to him in 2009?
Posted by: Michelle | Feb 10, 2008 2:25:44 PM
As I understand it, it's an advance on your 2009 tax return! If you were to get money back on your return in 2009, you won't see that money then - at least the amount commensurate with the so-called "rebate" which it really isn't. It's an advance on money you haven't yet paid to the government, which is functionally broke. It, again, is NOT a rebate from your 2008 return. This "rebate" is money that the Federal Government is borrowing in advance of next years' tax return.
Posted by: rgrace | Feb 13, 2008 2:48:25 AM
Question: On my 2008 tax return, I am getting a $900 refund. Do I have to subtract the $600 I received in 2008 as part of the tax relief program? On my 2008 return I owe $300--do I have to add to it the $600 I got in 2008 for a total debt of $900?
Posted by: Richard Milbrodt | Feb 13, 2008 12:50:11 PM
i live in a predominately hispanic area and when the people here get their checks they plan to send it to their families in their home countries. how is this going to help our economy. it won't, of course. this plan has not been thought out properly in my opinion. if the people from other countries all send the money home it might just possibly be a bust for the economy here and a boost the economy of other countries. why wasn't this even discussed in Washington. It is really a shame
Posted by: dana | Feb 14, 2008 12:56:59 PM
Can you please provide to me either a copy of the Stimulus Package that was passed in the House yesterday? If not, do you know where I might obtain a copy? Thank you.
Posted by: Mary K. Toppins | Jan 30, 2009 10:37:30 AM
I am pleased that the U.S. Senate did something for the regular american people by passing the stimulus package. I am very disappointed that the Republican members of the Senate have chosen to ignore the needs of regular americans who don't have jobs. It facinates me that the Republican members of congress allowed our country to get in this mess and now assume that they have the answers after two weeks of President Obama's presidency. Guess what guys...we remember what you did for the corporate elite's as you allowed them to rape our country's economy. Please sit down and shut up and let someone with ethics, humility, compassion and intellect lead us out of the horror you created.
Posted by: Freddie | Feb 7, 2009 12:45:32 AM
Is it possible for me to obtain a copy of the economic stimulus plan?
Posted by: Anita Thomas | Feb 11, 2009 9:03:38 AM
Who do I have to contact for a copy of the stimulus package, which is being signed or already signed by
Posted by: renee campbell | Feb 17, 2009 1:59:22 PM
Ditto "Can you please provide to me either a copy of the Stimulus Package that was passed in the House yesterday? If not, do you know where I might obtain a copy? Thank you."
Where does all this money go???
Posted by: Jon | Feb 18, 2009 7:19:15 AM
You are an idiot if you think this stimulus package is going to do anything for us other than put our kids and grandkids in more debt to the American government in future years. By the way, last time I checked, the democrats were in office too the last few years where the economy started to go downhill so don't just blame the republicans. I blame both personally.
Just like everyone else, if I could get a link or a copy of this spendilus bill, I would greatly appreciate it. I would also like to know how we are going to spend 790 billion dollars.
Posted by: Kevin | Feb 23, 2009 2:53:28 PM