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Senate Rebate Proposal Targets More Funds to Low-Income Households, Boosting Stimulus Impact

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Publication Date: January 2008

Publisher(s): Center on Budget and Policy Priorities (Washington, D.C.)

Author(s): Aviva Aron-Dine; Robert Greenstein

Special Collection: John D. and Catherine T. MacArthur Foundation

Topic: Banking and finance (Taxation and tax policy)
Economics (Economic policy, planning, and development)

Keywords: Economic projections; Federal budget; Income diversity; Economic inequality

Type: Report

Abstract:

While retaining the House rebate’s basic structure, the Finance Committee legislation would modify the rebate in three ways: (1) it would provide rebates to low- and moderate-income working families that are the same size as--rather than smaller than--the rebates going to families at higher income levels; (2) it would extend the rebate to low- and moderate-income seniors who receive Social Security but do not have earnings; and (3) it would make the rebate available to somewhat higher income households than would qualify under the House bill. Rebates for households not affected by these changes would be slightly smaller than under the House proposal.