Mortgages to Those with No Money, Followed by Tax Breaks to Those Who Pay No Taxes
Bush, Lawmakers Are Close to Deal on Stimulus Package
By Peter Baker and Jonathan Weisman
Washington Post Staff Writers
Wednesday, January 23, 2008; A01
President Bush and congressional leaders moved closer to agreeing on a compromise economic rescue package yesterday, fending off fresh protests from both the right and the left as they rushed to respond to a cascading series of economic troubles and to head off a potential recession.
As markets roiled from a sharp sell-off around the world and the Federal Reserve cut interest rates at home, Bush met with House and Senate leaders to work out a package of tax breaks for consumers and businesses. In an important concession to Democrats, Treasury Secretary Henry M. Paulson Jr. signaled that he is open to including breaks even for those who pay little to no income taxes.
. . . Individuals would get rebates of as much as $800, and married couples as much as $1,600.
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