Friday, January 18, 2008
what is in stimulus program
--To be effective, Mr. Bush said the stimulus must be temporary, take affect right away and not include tax increases. He said the size of the package should be around 1% of U.S. gross domestic product, which would be around $140 billion to $150 billion.
--A congressional aide familiar with Thursday's conference call between Mr. Bush and lawmakers said the White House is mulling giving individuals and households tax rebates of $800 and $1,600, respectively, and letting businesses deduct half of their new equipment purchases.
--Mr. Bush's last stimulus plan in 2001 included rebate checks of either $300 or $600. It took around 10 weeks to issue those checks, and the Congressional Budget Office said a similar delivery time can be expected if rebates are included this time around.
--In a concession that could help speed the process of implementing a stimulus plans, the White House said it would separate its campaign to make Mr. Bush's 2001 and 2003 tax cuts permanent from the stimulus negotiations. Mr. Bush, however, repeated this call to make the tax cuts permanent.
--"A source of uncertainty in our economy is that this tax relief is set to expire at the end of 2010," he said. "Unless Congress acts
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