President Bush on Friday touted the roughly $168 billion in rebates set to begin reaching Americans by Monday as a means of breathing life into a sluggish economy.
“The money is going to help Americans offset the high prices we’re seeing at the gas pumps and the grocery store and will also give our economy a boost to help us pull out of this economic slowdown,” he said during brief remarks at the White House.
Bush said that beginning Monday “more than 7 million Americans will receive their rebates electronically.” On May 9, millions more would receive their payments by paper check, he said. Roughly 130 million households are expected to get the rebates.
The economic stimulus package, which offers up to $600 to individual taxpayers and $1,200 to couples, also provides an additional $300 in rebates for each child and for non-taxpaying families. It was suggested by the White House and Congress approved the measure in January.
The president also reminded citizens, including those who normally do not file a tax return, to complete and return a 1040A tax form to claim the payment.
June 6th, 2008 at 4:27 am
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