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Bush Proposes Economic Stimulus Package

News Flash: A Rebate Check May Be on Its Way

President Bush is pushing an economic stimulus package sized from $140 billion to $150 billion, which may mean a rebate check will be headed for your mailbox. The White House is considering rebates of up to $800 for individuals and $1,600 for married couples. A similar package was rolled out in 2001 and checks were issued in sums of $300 or $600. Surprisingly, most people spent their checks instead of saving or using the money to pay off credit and that's what the White House is hoping for this time around, too.

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chancleta chancleta 8 years
ooooooooo yah! i hope me and my husband get one! does it say when you had to get married to qualify? our wedding credit card could so use this $$
popgoestheworld popgoestheworld 8 years
What does this have to do with treating lower classes unfairly? If you don't pay taxes why should you get a rebate? This isn't a welfare program it's a tax rebate.
LaLa0428 LaLa0428 8 years
I got $300 back in 2001, I want to know what exactly determines the amount of your rebate.
Megatron Megatron 8 years
Me,too, Liss, me,too...
Liss1 Liss1 8 years
This would go right toward paying my credit card!
SugarCat SugarCat 8 years
Hmm, I'll have to really think back and remember if I got that check or not.
meumitsuki meumitsuki 8 years
The government is the only organization that can do a horrible job with accounting and make its customers, us, pay more for their product. I also love how something that was supposed to be temporary for 1-2 years at 1% has blown up into a financial albatross. We need to switch to the fair tax!
jennifer76 jennifer76 8 years
Katharine - I found and read that article after reading your first comment, but I still don't see that the rebate comes out of your next year's taxes. :? In fact, the article says this:
I always adjust my withholding to ensure I get a big refund in the spring. Since the IRS is sending me a rebate, will I get a smaller refund? No.
:? Maybe SavvySugar could post tomorrow explaining the hows and whys.
emalove emalove 8 years
Thanks, Katharine! I'll check out that link :)
i-am-awesomeness i-am-awesomeness 8 years
Who in their right mind would've spent all that money last time it was given out? Maybe I've just been raised to be careful with money, but that's ridiculous. If my parents get that rebate, I know that it will be going to pay bills or do household repairs that have been waiting for a while. I was just raised not to spend money until you are debt-free and have at least some savings.
Katharine Katharine 8 years
In 2001 it was considered a "rebate" but it really was an advance. Emalove - your rebate was based on your 2000 income and would have effected your 2001 return. This article from 2001 explains it well. I know I read it somewhere about it being the same deal this time but I can't find the article. I will keep looking. Here is the 2001 one though :http://www.usatoday.com/money/perfi/columnist/block/2001-06-12-block.htm
emalove emalove 8 years
Renee3, I'm not sure...that sounds odd to me too. When I got the $300 "rebate" back in 2001, it didn't affect my 2002 tax returns at all.
emalove emalove 8 years
Ooh, I remember getting that $300 check back in 2001. That was nice! I can think of several things I'd do if I got another one this year...
totonlaura totonlaura 8 years
I hope so I would use it to pay my credit card...
Renees3 Renees3 8 years
wait, is Katharine correct? If I get this "rebate" I won't get a return next year? That just seems weird to me
flutterpie flutterpie 8 years
as a joe blow tax payer: whoo hooas someone who knows a little something about politics and economics: its this kind of hope and pray economics that has gotten us into this mess. bernake even said "i hope they spend it domestically, i hope they use it to pay off debt"
flutterpie flutterpie 8 years
as a joe blow tax payer: whoo hoo as someone who knows a little something about politics and economics: its this kind of hope and pray economics that has gotten us into this mess. bernake even said "i hope they spend it domestically, i hope they use it to pay off debt"
freegracefrom freegracefrom 8 years
I really hope this passes. Last year, I had a second job doing as an independent contractor and I'm reaaaaally not prepared to pay a large sum of money right now. :oops:
Katharine Katharine 8 years
I hate how they call it a rebate. It is really an advance on next year's tax return. So if you were to get $1600 back next year then you will get $0 if you get the "rebate".
Mrgan Mrgan 8 years
If this is true that money would go towards bridal party expenses for me. I am in a friend's bridal party and it is costing me a fortune since there is just 2 bridesmaids. Therefore, this money would go towards bridal shower and hotel expenses.. any idea of when we would get these checks?
Lovely_1 Lovely_1 8 years
I'm not American so I don't get this! But a couple of years ago I did get a rebate check when our province became debt free :D
Lovely_1 Lovely_1 8 years
I'm not American so I don't get this!But a couple of years ago I did get a rebate check when our province became debt free :D
SkinnyMarie SkinnyMarie 8 years
Funny..That year that the rebate was given out, I was a part time employee while going to school. I had a $60 federal return. I got a good old letter from GW saying that I wouldn't be getting my return. How nice to treat the lower class so fairly.
Veekore Veekore 8 years
Jeeps,I think the whole point is not to push people to spend or save, but to let them weigh the options. I agree with you though that this is a rebate...best idea is to put it towards your taxes :)
Veekore Veekore 8 years
Jeeps, I think the whole point is not to push people to spend or save, but to let them weigh the options. I agree with you though that this is a rebate...best idea is to put it towards your taxes :)
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