Monday, February 11, 2008

What's in and what's out in a potential stimulus package from the ...


Congressional leaders and Treasury Secretary Henry Paulson are narrowing their differences in search of a bipartisan economic stimulus deal that could move swiftly through Congress.

WHAT'S IN

_Tax rebates: Checks of at least $300 for all people earning a paycheck, including low-income earners who make too little to pay income taxes. Families with children would receive an additional $300 per child, while those paying income taxes could receive higher rebates. Rebates may be capped at $1,200 for couples with children.

_Business tax write-offs: Spurring business investments with so-called bonus depreciation, more generous expensing rules and a change to allow businesses suffering losses now to reclaim taxes previously paid.

_Housing rescue: Allowing Fannie Mae and Freddie Mac to buy loans larger than $417,000.

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