United States House of Representatives Speaker Nancy Pelosi said on Thursday, January 24, 117 million U.S. families would receive a tax rebate check under a deal reached to provide stimulus to the U.S. economy.
A fact sheet released by the California Democrat said the individuals would receive tax rebate of up to $600, while married couples would see help up to $1,200, plus $300 per child.
The document also said the limit on the size of mortgages that government-sponsored enterprises Fannie Mae and Freddie Mac can buy would be increased for one year to $729,750 from the current $417,000.
Rebates will only be given to individuals who make $75,000 or less and working couples who earn less than $150,000.
The tax rebate checks could go out as early as June 2008.
Source: Reuters
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