“The Senate measure would deliver flat rebates of $500 for individuals and $1,000 for couples to anyone earning at least $3,000, with income limits of $150,000 for individuals and $300,000 for couples. The rebate would phase out for those making more, disappearing altogether for individuals with income of $160,000 for individuals and $320,000 for couples. The caps would be higher for those with children.”
I thought Reid & Pelosi don’t want the “rich” to get rebates. Sorry, but $300K a year don’t sound like poor to me. IMy guess is that it is that high so that Congress critters get a check for themselves.
Actually, I’m against the whole idea of rebates. I “might” get one, but it would be beer money(wife and I together don’t make $75K). Besides, by the time they get around to actually sending out checks, it won’t make a dime’s worth of difference.
The Repub plan had a lower income ceiling.
My guess is that the Dems know the richer ones won't spend the $ but will either save or invest it.
They are tricky...they are coming across as generous with this plan but they are bloating the payout here with funds that won't even stimulate the economy.
The Dems' plan with this stimulus is actually to slow down the economy not stimulate it.
The poor don't pay income taxes, so why should they be the ones getting an additional income tax rebate? Both plans already give a lot of people "back" money they don't pay.
Interesting that the ‘Senate’ plan ensures that Congresscritters are included in the rebate program...