Stimulus package

[JanetM]

Guy is my office just showed me the news on stimulus package. He makes $145,000 and his wife doesn't work. He's tickled pink that he's going to get check for $1,200.

Anyone know if the "couple" limit will require the wife to also have earned income.

[masteff]

http://www.cnn.com/2008/POLITICS/01/24/eco...ulus/index.html

This article at CNN just says "per couple who paid income tax and who filed jointly".

But people on the borderline shouldn't jump for joy too fast, as no telling if they'll use 2006 AGI or what to calculate who gets a check. So your coworker might double check what other income he had in 2006 as it might have pushed him over the limit.

And of course all bets are off until the ink dries.

EDIT: here's another good article which speaks to how quickly we might (not) expect to see these rebate checks coming. http://www.kansas.com/news/story/290530.html

[JanetM]

Thanks for the link Masteff. I hope they clarify the details quick. The office is buzzing and speculation rampant.

[masteff]

Here's another titillating tidbit to tease your coworkers with.... this article on Yahoo says:

"The rebates would phase out gradually for individuals whose income exceeds $75,000 and couples with incomes above $150,000, aides said. Individuals with incomes up to $87,000 and couples up to $174,000 would get partial rebates. The caps are higher for those with children."

So a few more people might sneak in for partial rebates (only fair versus a hard cut off at $150K).

[JanetM]

Perfect..... Thanks again.

[david rigby]

Perfect?

More proof that the folks in DC have never balanced a checkbook, or a budget.

[jevd]

Treasury release on package

See above for information on proposed package.

I bet it changes before it becomes final.

[jevd]

Treasury release on package

See above for information on proposed package.

I bet it changes before it becomes final.

and here is the House version. $1200 for Joint Filers. No mention of two wage earners that I can see. Just approved in the House.

Here HR 5140.

[masteff]

Here HR 5140.

Link didn't quite work (message: "Search results are only retained for a limited amount of time")... go here: http://thomas.loc.gov/cgi-bin/query/z?c110:H.R.5140.IH:

[jevd]

Here HR 5140.

Link didn't quite work... go here: http://thomas.loc.gov/home/c110query.html

Under "enter search" switch "word/phrase" to "bill number" and enter HR 5140

Sorry. It must have been a temporary link.

[masteff]

Note: I edited my last post to have a direct link (finally found how to get there directly, not exactly straight forward).

Question: anyone else noticed that the $300 per child is based on the child tax credit and therefore the kid has to be under 17? (People in the office were talking and asked me if I knew anything about it; thanks to jevd for the link to the actual bill).

Also, reading the bill, the check you get will be based on your 2007 status but the actual credit will be calculated based on your 2008 tax return. (Anyone read it differently?)

[JanetM]

Wow, in just a couple days the ideas they have come up with on the Hill. Lets not extend unemployment - lets just require some kind of training to get benefits. Health care workers are in demand, lets retrain folks to do those jobs.

As far as the increase for food stamps - sure that just give the high school drop listening to her Ipod or chatting on her cell phone, while her kids run rampant, more to spend on DVDs.

Okay, I am a bit cranky today.

[masteff]

http://news.yahoo.com/s/ap/20080207/ap_on_...conomy_stimulus

Here's the latest. Senate passed a similar package that added seniors and veterans to the list of people to receive checks.

[Below Ground]

Janet, I think you are right to be a little cranky.

[JanetM]

Thanks.................