Friday, February 8, 2008

Senate OKs stimulus, adds $300 rebates for seniors, disabled vets

Voting 91-6, the Senate has agreed to $300 rebates for 20 million older Americans and 250,000 disabled veterans.

The amendment was added to the House-passed economic-stimulus package supported by President Bush. It includes rebates of $600 for individuals and $1,200 for couples, plus some tax breaks for businesses. Final Senate passage of the full measure is expected shortly.

The House would then have to re-vote on the amended legislation before it could be sent to Bush for his signature.

Update at 5:13 p.m. ET: The Senate has passed the legislation, 81-16. The House is expected to approve the amended bill tonight and send it to the president. The compromise measure does not contain a Democratic proposal to extend jobless benefits, offer heating aid for the poor and give tax breaks to certain industries.

Update at 5:32 p.m. ET: The rebates would be based on 2007 tax returns, and checks are expected to begin arriving in May.

Update at 8:12 p.m. ET The House has passed the legislation and sent it to President Bush. The White House indicates he'll sign it into law.

Source: USA Today

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