Economic Stimulus Act of 2008


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Economic Stimulus Act of 2008

Legislation in the United States that paid tax rebates to certain households, provided tax incentives to small businesses to encourage hiring and investment, and allowed Fannie Mae and Freddie Mac to purchase mortgages above previous limits. The act was intended to avert a recession, but it did not, and the U.S. entered a serious financial crisis later the same year.
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The GSEs could also purchase additional mortgages by following the suggestion in the Economic Stimulus Act of 2008 and H.
In essence, the Economic Stimulus Act of 2008 provides for a credit against the 2008 tax liability but seeks to provide for advanced receipt of the credit in the form of an immediate rebate.
What many taxpayers probably did not realize when they made that choice on their returns this year was that their advance refunds under the Economic Stimulus Act of 2008, P.
Although the Economic Stimulus Act of 2008 provides only a few incentives for businesses to purchase additional equipment, it provides the much-publicized rebate checks for individuals.
Checks from the Economic Stimulus Act of 2008 are just now beginning to arrive in taxpayers' bank accounts, but surveys and studies suggest that a majority of the recipients won't be rushing off to the mall to make the economy boom once more.
In addition to the politically ballyhooed rebates for individual taxpayers, The Economic Stimulus Act of 2008 includes two major provisions for businesses.
Although price declines mean that the total number of homes eligible for conforming financing has increased, we're disappointed that the $729,750 limit stipulated in the Economic Stimulus Act of 2008 signed in February was not made permanent," said C.
Future income tax rebates will also be affected if they are worded similarly to the Economic Stimulus Act of 2008.
Much of the acceleration was accounted for by cash rebates from the federal government under the Economic Stimulus Act of 2008.
In response to recent economic uncertainties, the Economic Stimulus Act of 2008 provides individual taxpayers a one-time rebate (advance tax credit).
1 billion in tax incentives are targeted principally to home ownership and affordable housing, the new law also allows corporations to use their accumulated alternative minimum tax and research and development credits by electing NOT to claim the special 50-percent bonus depreciation that was allowed by the recently enacted Economic Stimulus Act of 2008.
A sharp acceleration in current-dollar DPI reflected a sharp acceleration in personal income and a sharp downturn in personal current taxes; both primarily reflected the rebates to individuals provided by the Economic Stimulus Act of 2008.