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13.02.2008 - Bush signs economic plan into law

President George W Bush has signed off the two-year bipartisan $167bn (Ј86bn) US economic stimulus plan.

It aims to bolster the world's largest economy and avoid a recession, and will lead to millions of US homes getting tax rebates from May.

The Czech Republic news are represented by www.prague-apartments-hotels.com

The package includes one-off rebates of up to $600 for individuals and $1,200 for couples, plus $300 for each child.

Mr Bush said the plan - passed by Congress last week - was a "booster shot" for the US economy. Bush calls for economic kickstart ...
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As well as the tax rebates, the package will see those on low incomes who do not pay income tax receive a $300 payout.

The aim of the plan is to boost US consumer spending at a time when the continuing housing market slump has raised fears of a wider recession.

"We have come together on a single mission, and that is to put the people's interest first," said President Bush.

While the package was passed by a vote of 81-16 in the Senate and by 380 to 34 in the House of Representatives, some politicians have expressed concerns about what it will do the government's finances.



(BBC)

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