Senate Passes Tax Rebate Bill
Thursday February 7, 2008
The U.S. Senate today passed the economic stimulus bill, which will send taxpapers rebate checks of up to $600 for individuals and $1,200 for couples plus $300 per child later this summer.
Senate Includes Checks for Retirees, Disabled Veterans
In amendments to the bill passed by the House on Jan. 29, the Senate authorized checks for some 20 million retirees on Social Security and disabled veterans.
Under the Senate amendments, person who earned at least $3,000 last year from Social Security benefits or veterans disability benefits, but paid no taxes, will get a check for $300.
The House now must pass a compromise bill that incorporates provisions of the Senate’s bill. A final bill may be ready for President Bush’s signature by early next week.
Comments
And the money is coming from…? And the typical American will be spending it on consumer goods from..? Just whose economy will we be stimulating?
I am on Social Security disability and SSI,my son is also on SSI an Social Security, will we each get a rebate check,and what do we do to get it?
I was wondering if people on Social Security Disability will get the $300.00. I read that they will have to file taxes in order to get the check. Which normally you don’t have to do. Well there goes $50.00 of it!
On SSI — Since SSI is a federal income supplement program funded by general tax revenues (not Social Security taxes), I doubt persons on SSI will get a tax rebate check.
All specific questions on the tax rebates should be directed to the IRS.
You can call the IRS at:
Toll-Free, 1-800-829-1040
Hours of Operation: Monday – Friday, 7:00 a.m. – 10:00 p.m. your local time (Alaska & Hawaii follow Pacific Time).
Robert
Melanie —
Where is the money for the rebate checks coming from? From us, of course, the people who pay the taxes. It’s our money. The government is simply giving a little bit of it back. That’s what a “rebate” is — some of your own money back. If everyone, including people who pay no taxes got one, it would be a gift, not a rebate.