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Bush Proposes Tax Rebates

Mr. Bush’s broad-based plan would mean tax breaks for companies and taxpayers that total roughly 145 billion dollars. Congress and the President are still ironing out details, but the one-time tax rebates could be up to 800 dollars a person. So, I asked people what would you do with your rebate check?

PEOPLE ON THE STREET: I have two boys that’s what I would do spend it on them… I would save it for gas to get to work. ‘Cause gas prices are so high… Buy more household stuff. I don’t know. I would probably buy the family the TV that we talked about getting…Save it. Why would you do that? Because I have a retirement to fund and that’s the most important to me.

But, if the economic plan is going to work, the thinking goes, people have to spend it, not do something responsible like pay off their credit cards or pop it in a savings.

Hal Uhrman says… that works for him.

Hal Uhrman: I would probably go shopping and buy something that I need and spend it all. Why would you spend it? Well, that would help the economy. Put it back in circulation.

In the meantime, Congressional leaders expect to have a package ready to go by Jan. 28, when Bush delivers his State of the Union address. If the plan passes, taxpayers could see a check by summertime.

Tasha Flournoy, 90.3.