Bush Signs Economic Stimulus Act of 2008

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By Admin on February 14, 2008 12:33 PM

President Bush has signed the Economic Stimulus Act of 2008, a package of measures intended to stimulate economic growth. The plan includes new tax rebates for 128 million American households and investment incentives for businesses. At the bill signing ceremony in the White House's East Room, President Bush called the new law a "booster shot" for the economy, and stated: "The bill I'm signing today is large enough to have an impact -- amounting to more than $152 billion this year, or about 1 percent of GDP. The bill provides temporary tax incentives for businesses to make investments in their companies so that we create new jobs this year. The bill provides individual tax relief in the form of tax rebates. These rebates will amount to as much as $600 for individuals and $1,200 for married couples, with additional rebates for families with children."