President George W. Bush has signed a160 billion dollar Economic Stimulus Bill into law on 13th Feb, 2008 to ward off a possible economic collapse. Under this Economic Stimulus package, individuals who earn 75k dollars or less will get 600 dollar tax rebate and working couples who earn less than 150k dollars or less, will get 1200 dollar tax rebate. For each child, there will be additional 300 dollar rebate.

Under the package, the limits of conforming loans insured by Government-sponsored entities, Fannie Mae and Freddie Mac, will be increased from 417k dollars to 729,750 dollars, though the limit will vary depending upon how expensive the area is.

The Bill also has provisions for small businesses. Small investors will also get tax break which has been increased from 125k dollar to 250k dollars.

[tags]economic stimulus bill, tax rebate, conforming loan limit[/tags]

This entry was posted on Friday, February 15th, 2008 at 12:42 am and is filed under Finance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.