First Batch of Rebate Checks Sent by Direct Deposit Monday
Melanie Hunter-Omar
Senior Editor
(CNSNews.com) - On Monday the Treasury Department will begin delivering the first of the tax rebates President Bush approved as an economic stimulus by direct deposit, followed on May 9th with the first mailed checks from the Internal Revenue Service.
During the first week, 7.7 million Americans are expected to receive their tax rebates electronically, Bush said Friday. By the summer, the Treasury Department will have sent rebates to 130 million U.S. households.
Those eligible can expect to receive rebates up to $600 per person, $1,200 per couple, and $300 per child. "For a middle-class family of four, that is $1,800, including $300 for each child. If they have more children, then of course, their check would be more," House Speaker Nancy Pelosi said in a press conference Friday.
For those who have already filed an income tax return, the rebate is on the way, Bush said, and even those who don't owe income taxes may still be eligible for a check, but they need to file a form with the IRS. It's not too late to do so, the president said. People can go to the IRS website or contact their local IRS office.
"We want to make sure everyone who's eligible for a check gets one on a timely basis. 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," said Bush.
Meanwhile, Pelosi hinted that a second stimulus package could be on its way.
"The strain of the economic downturn on middle- and low-income families demands, in my view, a consideration of a second stimulus package and we have begun some conversations with the Administration and the Republicans on that," she said.
"Specifically, we are working on efforts to pass additional sweeping legislation to keep millions of families in their homes, provide relief to millions of out-of-work Americans, and reduce the strain on families who are struggling with rising gas and grocery prices," said Pelosi.
She called the tax rebates an example of what Congress can accomplish when they work together in a bipartisan way.
Make media inquiries or request an interview about this article.
-Omar
During the first week, 7.7 million Americans are expected to receive their tax rebates electronically, Bush said Friday. By the summer, the Treasury Department will have sent rebates to 130 million U.S. households.
Those eligible can expect to receive rebates up to $600 per person, $1,200 per couple, and $300 per child. "For a middle-class family of four, that is $1,800, including $300 for each child. If they have more children, then of course, their check would be more," House Speaker Nancy Pelosi said in a press conference Friday.
For those who have already filed an income tax return, the rebate is on the way, Bush said, and even those who don't owe income taxes may still be eligible for a check, but they need to file a form with the IRS. It's not too late to do so, the president said. People can go to the IRS website or contact their local IRS office.
"We want to make sure everyone who's eligible for a check gets one on a timely basis. 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," said Bush.
Meanwhile, Pelosi hinted that a second stimulus package could be on its way.
"The strain of the economic downturn on middle- and low-income families demands, in my view, a consideration of a second stimulus package and we have begun some conversations with the Administration and the Republicans on that," she said.
"Specifically, we are working on efforts to pass additional sweeping legislation to keep millions of families in their homes, provide relief to millions of out-of-work Americans, and reduce the strain on families who are struggling with rising gas and grocery prices," said Pelosi.
She called the tax rebates an example of what Congress can accomplish when they work together in a bipartisan way.
Make media inquiries or request an interview about this article.
-Omar
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http://www.crosswalk.com/news/11574262/