Seniors, Veterans Eligible for Stimulus Rebates
This week, President Bush signed the $152 billion economic stimulus package approved by Congress. Seniors and veterans are eligible for the rebates that could arrive as early as May.
*The minimum rebate is $300 for anyone with at least $3,000 in qualifying income. Even low-income workers who don't owe income taxes will get a check as long as they earn $3,000.
*Anyone who qualifies for a rebate gets $300 for each child.
*The maximum rebate is $600 for a taxpayer and $1,200 for a couple. The rebate phases out for singles with incomes of $75,000 or more and couples with more than $150,000.
*Businesses will get tax benefits for buying equipment and putting it to use this year.
*The Federal Housing Administration will be able to raise its loan limit for mortgages to $271,050 and even more in expensive areas.
