- The Washington Times - Friday, April 25, 2008

WASHINGTON — President Bush this morning told the nation that tax rebates designed to boost consumer spending and strengthen a faltering U.S. economy will begin going out next Monday as part of a $157 billion package.

This money is going to help Americans offset the high prices we’re seeing at the gas pump and at the grocery store, and it will also give our economy a boost to help us pull out of this economic slowdown, the president said on the South Lawn before departing the White House for a day trip to Connecticut.

Depending on income levels, individuals will receive checks of between $300 and $600. Couples will receive checks of between $600 and $1,200, and will receive $300 per child.

The president offered measured tones about the effect of the stimulus.

It’s obvious our economy is in a slowdown. Fortunately, we recognized the signs early and took action, Mr. Bush said. The president said that about 7.7 million Americans will receive electronic rebates starting next week, and that rebate checks will begin going out the week after, starting May 9.

Video:Bush: Rebates should help economy By the end of the summer, Mr. Bush said, the Internal Revenue Service hopes to have distributed money to 130 million households. His statement today was intended, in part, to tell people who did not pay taxes that its not too late to register with the IRS to be eligible for a check. Democrats, who worked with the White House to pass this first stimulus package, are now pressing for a second stimulus package focused on healthcare, unemployment insurance, infrastructure, and housing. Mr. Bush has maintained that the government should allow the first stimulus to take effect.

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