New York – bipartisan deal Thursday on an economic stimulus package that would give $600 to more than $1,200 to most taxpayers in an effort to keep the economy from falling into recession.
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Most single taxpayers would get $600 and most two-wage households would get at least $1,200. The deal includes an additional amount of $300 per child. A total of 116 million taxpayers will receive checks of some size.
The main exception: higher-income taxpayers or individuals earning $75,000 or more or couples earning $150,000 or more. They would get reduced rebate checks, or none at all, depending on their income.[CNN]