Rebates on the Way as Stimulus Bill Passes House
With the economic stimulus packages winding its way through Congress, taxpayers may soon have rebate checks in their hands.
According to the Los Angeles Times the package, which was the result of an agreement between the White House and Congressional leaders, has passed the House and is now being considered by the Senate. Costing $150 billion, the package will grant $600 checks to single filers, which will be phased out for those earning more than $75,000. The checks will increase to over $1,000 for filers with children.
The Federal Reserve, meanwhile, lowered interest rates by a half-point Wednesday, the second such cut in eight days.