The news of this tax rebate was music to my ears. It's been all over the Internet and television for days now. The plan would give individual taxpayers up to $600 in rebates, working couples $1,200 and those with children an additional $300 per child. I am not sure if there is a limit to the number of children or not. This is a little dream come true for divorced women and single parents.
The rebates would phase down gradually for individuals whose adjusted gross income is above $75,000 and for couples with incomes totaling more than $150,000.
I was happy to hear the Senate may try adding an unemployment extension. This would also be a wonderful benefit. Here in Michigan the economy is struggling to say the least. This unemployment extension would make a huge difference for many people. The Michigan unemployment rate for December 2007 was 7.6%. This rate is listed as "seasonally adjusted". I wonder what the difference in the number of agriculture workers vs. the number of those to remove snow in the winter is.
I hope they get all the details hammered out and get the checks in the mail soon. If all goes as planned, checks are said to be arriving sometime in June. I don't know about you, but I will be standing by the mailbox waiting.