Note that this information is outdated.
By ANDREW TAYLOR – 20 hours ago WASHINGTON (AP) — Congressional leaders reached a tentative deal with the White House Thursday on tax rebates starting at $600 apiece for most taxpayers and business tax cuts to jolt the slumping economy. Families with children could get even larger rebates. Congressional officials close to the negotiations said House Speaker Nancy Pelosi and Republican Leader John Boehner of Ohio reached agreement in principle in a telephone call Thursday morning. The officials, speaking on condition of anonymity, said the two wanted key members of their parties to sign off on the approximately $150 billion accord before any announcement. The development came as the Bush administration, which also has been pushing for a deal, said agreement seemed imminent. "We'll be fine," a senior administration official said. Pelosi, D-Calif., agreed to drop increases in food stamp and unemployment benefits during a Wednesday meeting in exchange for gaining rebates of at least $300 for almost everyone earning a paycheck, including low-income earners who make too little to pay income taxes. Individuals and couples who pay income tax would receive rebates of $600-$1,200, and more if they have children.
Read More