One of the mostly talked about topic these days is recession, slump in housing market, stimulus package and such. Last week Congress passed the bill to provide relief to US recession. The question that comes to mind is What does it mean for you?
Marketwatch.com recently had a topic titled What the stimulus package means for you
Here is an excerpt from the article
Under the bill, individuals with adjusted gross income of up to $75,000 would be eligible for a rebate up to $600, while married couples filing jointly with an AGI up to $150,000 would receive up to $1,200. After those income levels, the rebates start phasing out.
Taxpayers with children would receive an additional $300 per child, with no limit on the number of child-based rebates. That means a family with four children could enjoy up to $2,400, and a family with two kids could receive up to $1,800.
Checks will start going out 60 days after the legislation is enacted. It will take approximately 10 weeks to issue all of the checks.
You can read more on this article here.
