Bush Signs $168B Stimulus Plan

First rebates from 'booster shot for our economy' to be mailed in May

By Nick McMaster, Newser Staff

Posted Feb 13, 2008 2:30 PM CST

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Bush Signs $168B Stimulus Plan — President Bush, surrounded by members of Congress, signs the Economic Stimulus Act of 2008, Wednesday, Feb. 13, 2008, in the East Room of the White House in Washington. Standing, from right are, House Minority Leader John Boehner of Ohio, Senate Minority Leader Mitch McConnell of Ky., and House Speaker... (Associated Press)

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.

Those who don’t make enough to pay income tax will still get $300 rebates; businesses will also get tax breaks under the plan if they invest in new equipment and real estate. Senate Majority Leader Harry Reid said "much more should be done to address our economy's longer-term problems," adding that the Senate could consider other stimulus measures in late February. (More George W. Bush stories.)

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