President Bush Discusses Economic Stimulus Rebate Checks

by Mike Godfrey, for LawAndTax-News.com, Washington

29 April 2008

President Bush on Monday commented on the commencement of the issuing of economic stimulus payments to US taxpayers, with the aim of boosting the economy.

According to a Treasury statement on the matter, nearly 8 million Americans will receive their payments this week, while checks will start being mailed May 9th.

The stimulus package, signed by the President in early February, also includes short-term incentives to bolster business investment and consumer spending.

"Together, the payments to individuals and the investment incentives for businesses will help create more than half a million jobs by the end of this year," commented Treasury Secretary Henry Paulson.

President Bush added:

"On Monday, the Treasury Department will begin delivering the first of these tax rebates by direct deposit. During the first week alone nearly 7.7 million Americans will receive their tax rebates electronically. Then on May 9th, the IRS will begin mailing checks to millions more across America."

"By this summer, the Treasury Department expects to have sent rebates to about 130 million American households. These rebates will provide eligible Americans with payments of up to USD600 a person, USD1,200 for couples, and USD300 per child," he explained, going on to add:

"If you've already filed your income tax return your rebate is on the way. Even if you don't owe any income taxes you may still be eligible for a check, but you need to file a form with the IRS. And it's not too late to do so. Now, you can find out information as to how to proceed by calling your local IRS office, or go to the IRS website."

The President continued: "We want to make sure everyone who's eligible for a check gets one on a timely basis. This money is going to help Americans offset the high prices we're seeing at the gas pump and at the grocery store, and it will also give our economy a boost to help us pull out of this economic slowdown."

"I'm pleased that the Treasury Department has worked quickly to get the money into the hands of the American people. Starting Monday, the effects of the stimulus will begin to reach millions of households across our country."

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