I hesitate to call it "free money" since we are just getting back some of what we pay in taxes that ends up getting spent on absurd and outrageous programs and pet projects of our government...but I digress. Money back, it doesn't hurt!
The bill calls for individuals earning up to $75,000 and couples earning up to $150,000 to earn rebates of as much as $600 and $1,200, respectively. Taxpayers receiving the rebates additionally will receive $300 a child. Rebates are for the 2007 tax year, and the Treasury Department will begin mailing checks in May.
Seniors and disabled veterans, many of whom would have been passed over in the original agreement, will receive $300 rebate checks. The plan passed the Senate by a vote of 81 to 16.
Yipee! Other interesting news as a result of this package:
...the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), who set the upper limit for single-family mortgage loans to $300,700, a 9.34 percent increase over the previous ceiling of $275,000.
...the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), who set the upper limit for single-family mortgage loans to $300,700, a 9.34 percent increase over the previous ceiling of $275,000.
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