2008 Government Rebates

As per the latest policy of the U.S. Government, taxpayers would get checks of several hundred dollars as rebates from the federal government under a plan to revamp the economy back on the track. Millions of the American citizens will have a check in the mail, from the coming May 2008 as a result of the ‘Government Rebate Policy’. The lawmakers feel that the proposed action by the government would strengthen the middle class, create more jobs and it will help to a certain extent for turning this economy around. As per the Treasury Department of U.S., the plan would send Government rebate checks of $600 to individuals and $1,200 to couples who paid income tax and who filed their tax returns jointly.

As per this policy, people who did not pay income taxes but who had earned income of more than $3,000 would get checks of minimum $300 per individual or $600 per couple, there will be provision for an additional amount per child, which could be in the neighborhood of $300. People, who earn up to $75,000 individually or up to $150,000 as a couple, will be eligible for the rebate payments. According to some estimates by the treasury department as many as 116 million American families will get a rebate check. According to the government sources the rebate policy includes a robust package of business incentives and help for homeowners facing possible mortgage foreclosures.

According to the President of America, the incentives offered in the rebate package will lead to higher consumer spending and increased business investment this year. It is for sure that this rebate package would increase the federal debt. After the proposed payment of the rebate checks the deficit would jump to $250 billion, according to the reputed auditors. But many of the American citizens are not at all impressed by the rebate policy of the government. Actual situation is yet to be assessed practically after the rebate payments start pouring in. 

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