Tax rebate checks will begin going out in May, Treasury Secretary Henry Paulson said after the House’s passage of a Senate-approved $167 billion economic stimulus package Thursday.
Well, at least that what CNN is reporting. The bill passed the House and Senate, and is now just needing the Presidents signature.
Here’s some of the specs:
- $300-600 to individuals making $3,000-$75,000
- $300 per child
- $1,200 for couples earning over $150,000
The article says that these checks are an advance on next year’s refunds. So wait, does this mean we won’t be getting refunds next year? They continue to say most (if not all) will be deducted from refunds in 12 months time.
Paulson said the process of sending the checks would be completed by the end of summer.
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