>John Thornton asked, "Anyone know where I can get a
>decent precis on the recently passed stimulus
>package?"
>
>--------------
>
>[Is the below helpful? -B.]
>
>
>
>Stimulus package: What's in, what's not
>By The Associated Press
>Thu Jan 24, 5:39 PM ET
>
>Congressional leaders have reached a deal with the
>White house on a bipartisan economic stimulus package
>that is expected to move swiftly through Congress and
>give most tax filers rebates of $600 to $1,200.
>
>WHAT'S IN
>
>_Tax rebates: Checks of at least $300 for almost
>everyone earning a paycheck, including low-income
>earners who make too little to pay income taxes, so
>long as they earned at least $3,000 in 2007. Families
>with children would receive an additional $300 per
>child, while those paying income taxes could receive
>higher rebates. The full rebate would be limited to
>individuals earning $75,000 or less and couples with
>incomes of $150,000 or less, but a partial rebate
>would go to individuals earning up to $87,000 and
>couples earning up to $174,000. The caps are higher
>for people with children.
>
>_Business tax write-offs: Spurring business
>investments with so-called bonus depreciation and more
>generous expensing rules.
>
>_Housing rescue: Allow more subprime mortgage holders
>to refinance into federally insured loans by raising
>the limit on Federal Housing Administration loans from
>$362,790 to as high as $729,750 in expensive areas.
>Increase the availability of mortgages by providing a
>one-year boost to the cap on loans Fannie Mae and
>Freddie Mac can buy, from $417,000 up to $729,750 in
>high-cost markets.
>
>WHAT'S OUT
>
>_Permanent tax cuts: Republicans conceded that their
>top priority would have to be left out.
>
>_Unemployment insurance: Democrats wanted to extend
>benefits past 26 weeks.
>
>_Food stamps: A boost for benefits.
>
>_Medicaid: Democrats gave up on including Medicaid
>payments to states.
>
>_Low-income heating subsidies: Democrats are
>surrendering the fight to include them.
>
>_Infrastructure spending: Spending on transportation
>or repair projects already under way is off the table.
>
>_Republicans dropped their proposal to let businesses
>suffering losses now reclaim taxes previously paid.
>
>(This version SUBS 6th graf, Housing rescue ..., to
>CORRECT current FHA limit to $362,790, sted $362,000.
>)
>
>http://news.yahoo.com/s/ap/20080124/ap_on_go_co/economy_stimulus_glance
>
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