Economic Stimulus Plan Passes

1.24.08 8:20 PM EDT By consumerist.com

Accord was reached and the economic stimulus plan has passed. Here’s a brass tacks breakdown:

  • Workers making at least $3000 but not paying federal income taxes: $300
  • Income tax paying individuals: $600
  • Working couples: $1200
  • People with children: extra $300 per child
  • Individuals making $87,000 and couples up to $174,000: partial rebates
  • Fannie Mae and Freddie Mac loan purchase limits increased to 725,000, a boost from the $362,000 and $417,000 caps, respectively.
  • Businesses can write off 50% of purchases of capital equipment
  • Small businesses can write off additional equipment purchases

    • Tax rebates deal announced [AP]
    (Photo: EricGjerde)

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