Deal Reached on Tax Rebates for Stimulus
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Congressional Democrats and Bush administration reach tentative deal on $300-$1,200 tax rebates and business tax cuts.
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President Bush on Wednesday signed a multibillion-dollar economic rescue package on Wednesday that means $300 to $1,200 rebates for many American households.
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The White House on Thursday confirmed that an agreement had been reached with Congress on an economic growth package and said President George W. Bush was expected to make a statement later in the day.
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The economic stimulus bill sent to President Bush includes a pair of tax breaks that could save companies tens of thousands of dollars on purchases of IT equipment -- if they buy this year.
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WASHINGTON -- In a breakthrough that could mean a $500 bonus for thousands of Washington state taxpayers, congressional negotiators yesterday agreed to allow state sales taxes to be deducted from federal returns for the first time since 1986.
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Amid reports of a tentative of deal between lawmakers and the Bush administration on a proposed stimulus package for the U.S. economy, the White House said on Thursday that there is no final agreement yet but there is progress.
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President George W Bush signs off the two-year bipartisan $167bn (Â£86bn) US economic stimulus plan.
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An agreement in the Senate appeared within reach on an economic-stimulus program on Thursday.
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An economic aid plan to send rebates of $600-$1,200 to most taxpayers passed a key test Monday in the Senate, where Democrats are pushing to add more than $40 billion in help for seniors, disabled veterans and the unemployed.
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Congress approved a $145.9-billion package of tax relief Thursday that extends three popular middle-class tax cuts, giving President George W. Bush his fourth major tax victory since taking office.
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The White House and the  Democratic-led Congress have reached a tentative deal on a $150  billion economic stimulus plan that includes tax rebates for  workers and business investment incentives, congressional  sources said on Thursday.
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With unprecedented speed and cooperation, Congress and the White House forged a deal Thursday to begin rushing tax rebates of $600 to $1,200 to most tax filers by spring, hoping they will spend the money just as quickly and jolt the ailing economy to life.
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The end of an excise tax means offers of a refund.
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U.S. News & World Report - With a presidential election less than 300 days away and the economic expansion listing badly, the White House and Congress are cooking up a recipe for fiscal stimulus. President Bush this morning called for about $145 billion worth of tax relief and other incentives to stimulate a sagging economy and fend off a possible recession. He said a growth package must include tax incentives for business investment and "direct and rapid" tax relief for individuals. Here is the skinny:
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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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Lawmakers and President Bush hope that tax breaks for businesses and rebates for taxpayers will promote spending.
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Democrats running Congress and the Bush administration reached a tentative deal Thursday on $300-$1,200 tax rebates and business tax cuts to jolt the slumping economy