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Stimulus cash

February 11, 2009
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Both the House and Senate versions of the economic stimulus plan include direct tax relief for workers, which is different from the payments last year.

House: About $145 billion for tax credits of $500 per worker and $1,000 per couple in 2009 and 2010. Workers could expect to see about $20 a week less in federal income taxes withheld from their paychecks starting around June. Those who don't make enough to pay federal income taxes could file returns next year and receive checks. Individuals making more than $75,000 and couples making more than $150,000 would receive reduced amounts.

Senate: The credit would phase out at incomes of $70,000 for individuals and couples making more than $140,000 and phase out more quickly, reducing the cost to $140 billion.

2008: $110 billion for rebate checks, as much as $600 for single filers making less than $75,000 a year and as much as $1,200 for couples earning less than $150,000 a year. Parents received an additional $300 per child. Those who do not owe income taxes but have at least $3,000 in income received $300 checks.

SOURCE: Associated Press

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