by Mark Silva
The checks will be in the bank on Monday -- for those who receive their IRS refunds by direct deposit, President Bush said today that the Treasury Department will start delivering the first 7.7 million of the "Economic Stimulus Act'' tax rebates on Monday.
The rest will start hitting the mail on May 9 -- with some 130 million households in line for the $600-per-individual, $1,200-per-couple and $300-per-eligible-child in rebates that Congress has approved at the White House's prompting as a boost for a slowing economy.
"If you've already filed your income tax return, your rebate is on the way,'' Bush said today on the South Lawn of the White House, encouraging people who haven't finished their taxes to file. The rebates, authorized under the Economic Stimulus Act of 2008, will come whether or not a tax filer owes taxes or is receiving a separate return.
"We want to make sure everyone who is eligible for a check gets one,'' Bush said. "This money is going to help Americans offset the high prices we are seeing at the gas pump and the grocery store... and will also give the economy a boost to help us out of this slowdown.''
Economists say the checks will have only a modest impact on the economy, if people spend the money -- as the administration is encouraging people to do. They say that the roughly $150 billion in tax rebates and tax incentives for businesses included in the act may make an anticipated recession only somewhat more shallow.
Bush insists there is no recession yet -- only a "slowdown.''
But direct-deposit was clearly the way to go here: Those bank-desposited rebates are all promised by May 16. The mailed checks starting in May will continue through June and into July. According to the IRS, direct deposits and mailed checks will flow in the sequence of taxpayers' Social Security numbers.
Home-budgeters, see the schedule here:
Last two SSN digits: Payment will be transmitted by:
00 through 20 May 2
21 through 75 May 9
76 through 99 May 16
PAPER CHECKs:
Last two SSN digits: Payments will be mailed by:
00 through 09 May 16
10 through 18 May 23
19 through 25 May 30
26 through 38 June 6
39 through 51 June 13
52 through 63 June 20
64 through 75 June 27
76 through 87 July 4
88 through 99 July 11
• 
• 
• 
• 
Comments
What if yu owe back taxes
Posted by: Carson Lee Huntley Jr. | April 25, 2008 10:50 AM
No recession? Because this C student really knows his stuff or is it what he is being fed to say? The economist Greenspan says it's a recession and you know what he has nothing to hide anymore, I guess I believe him.
Posted by: vix` | April 25, 2008 11:12 AM
Gee, I wonder how many liberals are going to whine about people getting more of their own money back in the next few weeks?
Posted by: John D | April 25, 2008 11:13 AM
Gee, I wonder how many Republicans are going to cheer the ever increasing defict as we return even more tax revenue in the next few weeks?
Posted by: JT | April 25, 2008 11:26 AM
People will whine anyway-they forget how blessed they are-running water, electricity, heat and air, protection from ruthless factions who kill, steal, rape etc...wake up America!! We are a blessed nation!!
Posted by: Kenny C | April 25, 2008 11:50 AM
I know no one cares, but out of control spending by republicans and democrats alike dose not justify mass taxes on Americans.
Posted by: tex | April 25, 2008 12:40 PM
More money to donate to Obama...
Posted by: strut2k | April 25, 2008 12:53 PM
I'm sending my check to Obama. You know that since the government is running a deficeit that this is just a loan that the tax payers will have to pay back later (with interest). Isn't this just like using one credit card to pay another? Eventually someone has to pay the bill.
Posted by: larz | April 25, 2008 12:59 PM
Thank you President Bush and members of the Congress for returning such a substantial portion of OUR income taxes. We will put it to needed use for our family. And thank you also for the tax reductions some years ago. It will be a huge blow to the American people if the Democrats allow the tax cuts to expire in 2010.
Posted by: godfreyrt@sbcglobal.net | April 25, 2008 1:24 PM
There you go again: "Economists say the checks will have only a modest impact." What economists? Name one -- just one -- who would be so stupid as to say that adding 150 BILLION DOLLARS to the economy will have a "modest" effect. Come on, name one, Tribune, so that we can all laugh at him.
Posted by: godfreyrt@sbcglobal.net | April 25, 2008 1:28 PM
Whining? You're kidding, right?
Here's some numbers & try to find where the economy is to grow:
If the average person drives 15k miles a year in a car that gets 20mpg & gas is $1.50 more this year (I'm averaging numbers out here), then they'll spend an additional $1125.00 just for gas.
When they get this $600 Bush welfare check, how are they going to spend it in a way that's growing to pull the economy out of a recession?
Bush is regurgitating voodoo economics again.
Posted by: RomanB | April 25, 2008 1:53 PM
My big issue with this is the sheer stupidity of it all. I owed about $1500 in Federal taxes this year which I paid. Now, two weeks later, I'm getting all of it back. How much will it end-up costing taxpayers to not simply make this a tax credit? I'm not economist, but it just seems a little silly....
I guess it's not a recession for the Bush family. After all, every time the price of oil goes up, they just make more money.
Posted by: JTO | April 25, 2008 2:14 PM
I know I live in relative comfort and that I pay utility bills to live that way; the government isn't paying my electric bill every month.
I'd be a lot happier paying taxes if it were going for worthwhile societal goods, such as excellent educational facilities, health care for all and high quality public transportation systems (instead of legal maneuverings for gathering power under the executive branch, a war based on lies and ideology, etcetera).
Posted by: rob vg-r | April 25, 2008 2:20 PM
QUOTE The economist Greenspan says it's a recession and you know what he has nothing to hide anymore, I guess I believe him. END QUOTE
Sorry to burst your bubble, but Greenspan is a part of this whole mess. You obviously have no financial background.
Posted by: Obama Nanny State | April 25, 2008 2:33 PM
hey vix - don't you know what the technical definition of a recession is?
I suppose you believe we entered one as soon as the prior groping, perjury-committing president left office in January, 2001 ?
Posted by: Lance | April 25, 2008 2:40 PM
I'm so glad that my "stimulus" check will go to paying not even 1/3rd of what I had to pay back to the government....
Posted by: Joshua | April 25, 2008 4:08 PM
Just 1 thing to say to all the people who want to wine. Just remember this the goverment dont have to give us any thing back so be glad that your getting anything back. Myself ill use the money to take my family on a vaction that is well over due.
Posted by: NEDZ | April 30, 2008 2:14 PM
SO what do you do if you dont receive a check and you made only 20000 last year
Posted by: Dominic | May 13, 2008 10:14 AM