1. What is the Economic Stimulus Act
In Feburary 2008, President Bush signed the Economic Stimulus Act of 2008. Initially designed to give low and middle class taxpayers a little relief in light of real estate downturns, rising inflation and high gas and food prices, the act ... on the market at lower prices, can receive up to $7500 as a tax credit if they buy their first house this year. Incentives for businesses were also a part of the Economic Stimulus package, giving businesses the ability to deduct expenses at much higher levels than in previous years. The hope: that businesses will buy equipment or property that they need...
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- Approx Pages: 2
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- Grade Level: Undergraduate