Politics are usually the least of my worries, however this current topic has caught my attention. In case you are not up to date in current events, President Bush and several members of Congress have proposed an Economic Stimulus Plan aimed at boosting the economy to prevent the impeding recession. Although the specifics are currently being negotiated, the Economic Stimulus Plan allows for a tax rebate to be given to most employed citizens. It is estimated that individuals would receive $300-$800 and additional $300 for dependents. Also included is a boost in food stamp and unemployment allowances, and incentives for businesses. According to CNN & Fox News, the rebate would go to almost everyone earning a paycheck, including those who make too little to pay income taxes and would likely cover individuals earning between $3,000 and $75,000 in 2007.
The Plan is expected to be finalized this afternoon, introduced and passed in the House by early February and the Senate by mid-February. Then it would take an additional couple of weeks for the Treasury Department to cut and mail rebate checks, which may be slowed by the concurrent tax season.
Well I don’t know about you, but I think this is the best idea President Bush has had in 8 years. Like Amanda said, “Maybe he is trying to go out with a few people liking him.” Personally, I think it is about time that the Government cut us some slack and allows us a tax break. Even though the Stimulus Plan may temporarily increase the Federal Deficit, I think it will stimulate the economy in the long run. Wouldn’t you like to have an additional $800 in your pocket? What would you buy? Personally, I am excited about this Plan–I just hope it passes!
Sorry to bore you with my first post, but I assure you that I will have more interesting posts in the future…but right now I am in the middle of block exams (more on this later). Hope you’ve enjoyed reading and don’t forget to comment!
