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econ jan-24 - Tax Cuts 1 Tax Cuts Anna Veldman Economics...

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Tax Cuts 1 Tax Cuts Anna Veldman Economics 210-05 January 24, 2008
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Tax Cuts 2 Thursday a deal was reached between congress and the White house regarding an “economic stimulus package” which includes tax cuts for many Americans. Most tax filers will receive refunds between $600 and $1200, and if they have children more. These rebates will go out to about 116 million families, including 35 million families that wouldn’t have received refunds under Bush’s original proposal. These refunds mean about $28 billion dollars in checks going out just to the 35 million families that were not originally included. Republicans were happy to see that more than 70 percent of these rebates will be going to individuals paying taxes. For each child, taxpayers will receive an additional $300, on top of $1200 for working couples. For workers who make over $3000, but not enough to pay taxes will get a rebate of $300 as well. These rebates will go out in June, and will total around $100 billion dollars. The leaders in Washington are really hoping that this package will help
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