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Stimulus Package

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Stimulus Package

"It has the right set of policies and is the right size." -George W. Bush

Bush signed the $168-billion stimulus plan, which will give most tax filers refunds of $600 to $1,200, more if they have children. Will the stimulus package be the quick boost the US economy needs to get consumers spending again?

Stories

Stories 41 - 60 of 70

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April 2008
- Bush Sees Rebate Checks Offsetting 'Slowdown'
  
  Bloomberg | Apr 25, 08 5:11 PM CDT
  
  (Newser) - Again steering clear of the R-word, President Bush said today that the tax rebates scheduled to be distributed starting next week will "give our economy a boost to help us pull out of this economic slowdown," Bloomberg reports. More »
- First Tax Rebates Go Out Monday
  
  Reuters | Apr 24, 08 2:51 PM CDT
  
  (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. More »
- Housing Bill Loaded with Corporate Tax Breaks
  
  New York Times | Apr 16, 08 9:54 AM CDT
  
  (Newser) - The bill was rushed through the Senate to come to the aid of homeowners facing foreclosure, but it turns out that some of its biggest beneficiaries are automakers, airlines and energy producers. The Senate’s housing bill is packed with billions in corporate tax cuts, the New York Times reports. With populist fervor behind the bill, lobbyists from a host of industries hit the Hill. And while the bill would help homebuilders and homebuyers, there’s little to actually prevent foreclosures. More »
- Congress Cashes In on Subprime Lobby
  
  Politico | Apr 9, 08 1:34 PM CDT
  
  (Newser) - The subprime crisis isn’t bad for everyone: congressmen and lobbying firms are doing great, Politico reports. Industries caught in the crunch have drastically scaled up their campaign contributions, and dozens of new lobbying firms have sprung up to cash in. Securities and investment PACs, for example, have already given more in 2008 than they gave throughout the midterm elections in 2006. More »
- Lawmakers Go Bipartisan on Housing
  
  Politico | Apr 2, 08 10:45 AM CDT
  
  (Newser) - Lawmakers are suddenly coming together on housing, with Republicans supporting a bill they left for dead two weeks ago, and Democrats cooling the political rhetoric for a change. The difference: those two weeks were spent back home with constituents, Politico notes. “Unless every member of the Senate was in a cave over recess, it’s clear that gas prices and housing were the most important issues,” said GOP Sen. Johnny Isakson. More »
March 2008
- Wall Street Sneezes; Heartland Catches Cold
  
  New York Times | Mar 21, 08 11:36 AM CDT
  
  (Newser) - The high-profile economic woes plaguing Wall Street and previously hot housing markets are spreading, raising the possibility of the worst recession Americans have faced in years. The New York Times crisscrosses the country, assembling anecdotal evidence—suddenly thrifty brides, unsold construction equipment, sinking earnings at FedEx—that suggests the slowdown could drag into 2009. More »
- Economy in 'Sharp Decline,' Paulson Admits
  
  Reuters | Mar 19, 08 5:46 AM CDT
  
  (Newser) - Hank Paulson came closer than ever to conceding that the economy is in recession in a series of interviews yesterday, Reuters reports. Weary after a weekend in which he helped to broker Bear Stearns' fire sale to JPMorgan, the treasury secretary avoided the R-word but admitted: "There's no doubt that the American people know that the economy has turned down sharply. So to me much less important is the label that's placed on it today." More »
- Economy in Trouble: Bush
  
  Associated Press | Mar 14, 08 3:00 PM CDT
  
  (Newser) - The economy is experiencing difficulties, but President Bush said today he is certain a recovery will come soon, the AP reports. “In a free-market economy there will be good times and bad times” he said in a speech to the Economic Club of New York. “We’re going through a hard time.” Democrats wasted little time in rebutting, dispatching Chuck Schumer to invoke Herbert Hoover. More »
- 'Perfect Storm' Batters US Economy
  
  New York Times | Mar 14, 08 12:30 PM CDT
  
  (Newser) - A perfect storm of economic maladies has the US economy reeling on the edge of recession and officials struggling to limit the damage it causes, reports the New York Times. But many economists say there isn’t much the government or policy makers can do besides batten down the hatches and, in the words of a Charles Schwab analyst, “let the system wash it out.” More »
- Feds Outline New, Tougher Credit Rules
  
  Wall Street Journal | Mar 13, 08 6:51 AM CDT
  
  (Newser) - A panel led by Treasury Secretary Henry Paulson is seeking a major overhaul of rules affecting mortgage lenders and a credit market decimated by risky subprime loans and loose oversight, the Wall Street Journal r eports. Among panel recommendations to be released today: Strengthen mortgage lender and broker oversight Establish licensing standards for mortgage brokers More »
February 2008
- Wal-Mart Taps 'Inner Skinflint' Amid Downturn
  
  Newsweek | Feb 28, 08 4:55 PM CST
  
  (Newser) - Newsweek blogger Daniel Gross asks why Wal-Mart, with its sales increasing, appears to be untouched by the US economic slowdown, and comes up with four answers. One, the behemoth mostly sell necessities. Two, its cheaper-than-thou branding is attracting pinched customers. Three, investors like Wal-Mart's prospects down the line. And four, the store is becoming increasingly international. More »
- No Return, No Rebate, Warns IRS
  
  Reuters | Feb 14, 08 7:44 AM CST
  
  (Newser) - Even people who didn't make enough money last year to be required to file a tax return are going to have to do so this year—if they want to get their rebates under President Bush's $170 billion economic stimulus plan, Reuters reports. The IRS is planning an information blitz to make eligible people, especially Social Security recipients, aware that they have to file or they won't see a penny. More »
- Bush Signs $168B Stimulus Plan
  
  Associated Press | Feb 13, 08 2:30 PM CST
  
  (Newser) - President Bush signed Congress’ economic stimulus bill into law today, ensuring that the tax rebates at the heart of the $168 billion plan will find their way into American bank accounts by May. The average rebate for an individual will be $600, with $1,200 for couples and a $300 add-on per child, reports the AP. More »
- Congress Sends Stimulus Plan to Bush
  
  New York Times | Feb 7, 08 6:59 PM CST
  
  (Newser) - Congress approved an economic stimulus plan today that will give rebates of between $600 and $1,200 to most Americans. It now awaits President Bush's expected signature before checks can go in the mail. The House quickly approved the measure hours after the Senate finalized its version of the $168 billion bill, the New York Times reports. More »
- GOP Senators Block Dems' Stimulus Plan
  
  Associated Press | Feb 6, 08 6:26 PM CST
  
  (Newser) - Democrats' efforts to expand a financial relief plan for Americans hit a roadblock in the Senate today, the AP reports. Republicans were able to stymie the bill, which they say is too expensive. Democrats hoped to add $40 billion to the plan that passed the House last week; it's now in limbo, but there's enormous political pressure to get it moving. More »
- Worry Over Economy Highest in 14-Plus Years
  
  Washington Post | Feb 4, 08 11:35 AM CST