Original House Package
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The stimulus package crafted by the Senate Finance Committee fell one vote short yesterday of the 60 needed for the legislation to be taken up for consideration. A similar, less expensive measure put together by House leaders and the White House is likely to pass soon.
What that original House bill includes:
Basic tax rebate: Up to $600 for individuals; $1,200 per married couple.
Upper limit: Rebate starts to phase out at $75,000 in adjusted gross income for individuals, $150,000 for couples.
Low-income rebate: $300 for people with $3,000 or more in earnings but not enough to pay income taxes.
Child rebate: $300 for each child younger than 17.
All rebates are based on 2007 income tax filings.
