House passes economic stimulus legislation
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The U.S. House of Representatives on Tuesday overwhelmingly approved a plan to give the U.S. economy a $146 billion election-year boost through tax rebates and other measures to stave off a possible recession by boosting business and consumer spending.
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President Bush on Wednesday signed the Economic Stimulus Act of 2008, calling it a "booster shot" for the American economy.
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A legislative package designed to stimulate the slumping economy could be passed by Congress and signed into law by President George W. Bush within a month, House Majority Leader Steny Hoyer said on Wednesday.
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Democratic and Republican congressional leaders reached a tentative deal Thursday on tax rebates of $300 to $1,200 per household and business tax cuts to jolt the slumping economy.
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The Senate passed an economic rescue plan Thursday that would speed $600 to $1,200 in rebates to most taxpayers and $300 checks to low-income people, including disabled veterans and the elderly.
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The Senate Finance Committee approved a $157 billion economic stimulus package on Wednesday that offers smaller tax rebates to more people than a plan passed by the House of Representatives.
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WASHINGTON -- The House last night passed a massive business-tax bill aimed at settling a trade dispute with the European Union and propping up domestic manufacturers.
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Key elements of rival House and Senate economic stimulus bills:
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Economic stimulus proposals favored by Democrats, including tax rebates, extended unemployment benefits and a temporary increase in food stamps, are cost-effective ways for Congress to try to boost the economy, the Congressional Budget Office said Tuesday.
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The 352-64 roll call Wednesday by which the House passed the Temporary Tax Relief Act keeping the alternative minimum tax from hitting more people in 2007.
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The House Ways and Means Committee yesterday approved a modest package of tax breaks for restaurants and small businesses that would be affected by an increase in the federal minimum wage, breaking a logjam with the Senate that has delayed passage of one of the Democrats' top legislative priorities.
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WASHINGTON â Congressional leaders agreed Tuesday that the House would take the lead on legislation intended to stabilize the economy, giving the speaker, Nancy Pelosi, and Representative John A. Boehner, the Republican leader, primary responsibility for reaching an agreement with the White House.
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The House of Representatives on Wednesday gave overwhelming final approval to a bill that would ensure millions of middle income taxpayers do not become ensnared by a tax originally designed for millionaires.
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The U.S. House of Representatives on Thursday passed a compromise measure to increase the federal minimum wage for the first time in a decade -- and provide billions of dollars in tax breaks to help businesses pay for it.
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A one-time tax rebate is at the heart of an economic stimulus package being negotiated by House leaders and Treasury Secretary Henry Paulson on Wednesday.
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Congress gave overwhelming final approval last night to legislation that would send government payments to most American households and grant tax incentives for business investment, sending President Bush a $152 billion stimulus plan for the faltering U.S. economy.
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Democratic leaders in the U.S. House  of Representatives on Tuesday began laying the groundwork for  an economic stimulus plan of about $100 billion that likely  will include tax rebates to help stave off a possible  recession.