<p>Congressional leaders have reached a deal with the White house on a bipartisan economic stimulus package that is expected to move swiftly through Congress and give most tax filers rebates of $600 to $1,200. </p>
<p>WHAT’S IN</p>
<p>_Tax rebates: Checks of at least $300 for almost everyone earning a paycheck, including low-income earners who make too little to pay income taxes, so long as they earned at least $3,000 in 2007. Families with children would receive an additional $300 per child, while those paying income taxes could receive higher rebates. The full rebate would be limited to individuals earning $75,000 or less and couples with incomes of $150,000 or less, but a partial rebate would go to individuals earning up to $87,000 and couples earning up to $174,000. The caps are higher for people with children.</p>
<p>_Business tax write-offs: Spurring business investments with so-called bonus depreciation and more generous expensing rules.</p>
<p>_Housing rescue: Raising the limit on Federal Housing Administration loans from $362,000 to $725,000. Boosting the cap on loans that Fannie Mae and Freddie Mac can buy from $417,000 to $725,000."</p>
<p>Wow on the home loan limits increasing. That will make loans much easier to get in high priced markets like California and NY/NJ/CT. RE brokers, get the car detailed and turn off Oprah. Time to get back to work. No plasma tv.</p>
<p>The government giveth and it taketh. The limits on loans really hurt the high priced markets for no policy reason and probably helped lead some people into the bad loans we hear so much about. They are just giving residents of high cost states equal treatment to those everywhere else. I’d call it fairness.</p>
<p>I think it does, too, gotta. But while I am a blue collar worker, I agree with most items considered on the “Republican Platform” and I am geussing what it says to me is different than what it says to you.</p>
<p>The Democrats got more for people with more children and a cap on those who get anything. It was a fair deal. Unemployment is not really high yet and new claims are actually down despite all the doom and gloom.</p>
<p>Okay, so now that you are probably getting a rebate check, isn’t that all available for college tuition, just like any money that one tries to put into an IRA or Sep account ;)? How much is the check at the various income levels? Is there a chart out yet? Does one tack on $300/child?</p>
<p>_Tax rebates: Checks of at least $300 for almost everyone earning a paycheck, including low-income earners who make too little to pay income taxes, so long as they earned at least $3,000 in 2007. Families with children would receive an additional $300 per child, while those paying income taxes could receive higher rebates. The full rebate would be limited to individuals earning $75,000 or less and couples with incomes of $150,000 or less, but a partial rebate would go to individuals earning up to $87,000 and couples earning up to $174,000. The caps are higher for people with children.</p>
<p>dstark, Thanks. I read all of that in the link. I guess we sill need to wait to see the exact amounts, but this does give one an idea of what it will be.</p>
<p>I expect my d’s college tuition/fees to increase more than I will get in a rebate check. So it’s good for Podunk U (or wherever she ends up)! I won’t even have the opportunity to pss it away. :rolleyes:</p>