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House – $18.3 billion to give greater access to the $1,000 per-child tax credit for low income workers in 2009 and 2010. Under current law, workers must make at least $12,550 to receive any portion of the credit. The change eliminates the floor, meaning more workers who pay no federal income taxes could receive checks.
In June 2009, dissatisfied with the pace of economic stimulus, Obama called on his cabinet to accelerate the investment. [45] By late 2013, the Federal Government had disposed of (re-privatized) all of its investments in Chrysler and GM. As of late 2016, taxpayers had recovered $71 billion of the $80 billion invested in the automobile industry. [2]
This tax holiday was intended as an economic stimulus by Obama and the Democrats, [3] with the value of boosting the disposable income of American families. [3] It would not worsen the Social Security program's financial strength, as the shortfall would be made up from general revenues. Some Republicans thus criticized the idea for increasing ...
In laying out details for his new economic stimulus program Wednesday, President Barack Obama regained his political swagger and ramped up his criticism of Republican leaders for failing to ...
Today's July retail sales report shows what we've been saying for some time--people seem to be spending their government stimulus checks on necessities such as food and gas, and not on shopping ...
The U.S. paid out $872.5 billion in enhanced unemployment payments. There were also two rounds of stimulus checks many Americans received in 2020 — one worth up to $1,200 and a second check ...
For example, a single parent whose 2007 adjusted gross income was $90,000, paid more than $600 in 2007 taxes and had two qualifying children received a rebate of $450. The IRS added together a $600 rebate for the parent and $600 for the two children to get $1,200, then subtracted the phaseout reduction of $750 ($50 for each $1,000 income above ...
The $24 billion cost would be offset by a provision loosening the rules for 401(k) accounts to be converted into Roth 401(k) plans, requiring taxes to be paid on the assets, [3] [5] as well as a requirement for unspecified cuts of $4 billion for the remainder of FY2013 and another $8 billion in FY 2014. [10]