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First Tax Rebates Go Out Monday  

Posted Apr 24, 08 2:51 PM CDT in US    Most Covered

(newser) – Treasury is putting its rebate money where its mouth is—ahead of schedule, Reuters reports, with the first wave of checks going out Monday. “We're a little bit ahead of schedule, so we will start right on Monday with direct deposits," Henry Paulson tells Reuters. The Treasury secretary is happy to get cash into Americans’ pockets a little quicker, in order to stave off worsening economic conditions.

The total rebate payout of $100 billion will be completed by the end of June, ahead of the normal target date at the end of summer. "Close to 8 million people will get their stimulus payments next week," Paulson said. "You add that to the incentives for business to make investments, we think that will give the economy a boost, upwards of 500,000 jobs."

Source Reuters

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First Tax Rebates Go Out Monday
Treasury Secretary Henry Paulson leans to talk to President Bush after The president made remarks to the press during a Cabinet meeting, Monday, April 14, 2008, in the Cabinet Room of the White House...   (AP Photo/Gerald Herbert)
First Tax Rebates Go Out Monday
Treasury Secretary Henry Paulson speaks during the 2008 Inter-American Development Bank's annual meeting at the Fillmore Center in Miami, Monday April 7, 2008.   (AP Photo/Cristobal Herrera)
First Tax Rebates Go Out Monday
U.S. Commerce Secretary Carlos Gutierrez, left, listens as Treasury Secretary Henry Paulson talks to the media, Monday, April 7, 2008 in a Miami Beach,Fla. news conference, saying the Bush administration...   (AP Photo/J. Pat Carter)
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housing crisis  • Henry Paulson  • economic stimulus  • stimulus package  • fuel prices  • tax rebate  • Department of the Treasury


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