Bush Signs Economic Stimulus Package

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President Bush signed the $168 billion stimulus package today and gave HUD 30 days to figure out how the loan limit increases will be implemented (h/t Rhonda).

From Bloomberg on the passage of the economic stimulus package:

U.S. economic growth “has clearly slowed,” Bush said in a ceremony at the White House, surrounded by congressional Democrats and Republicans who put aside differences to pass the measure last week. “The bill I’m signing today is large enough to have an impact,” Bush said.

Rebate checks will be sent to more than 130 million Americans beginning in May. Those eligible for payments include 20 million senior citizens and 250,000 disabled veterans.

Economic growth in the fourth quarter slowed to a 0.6 percent annualized pace, and U.S. employers cut jobs in January for the first time in four years, raising concern about a possible recession.

Under the rebate program, people will get a check of up to $600 for individuals and $1,200 for couples, plus $300 for each child. Rebate checks for $300 would be sent to those whose Social Security benefits, veterans’ disability payments and earned income that totaled at least $3,000 last year.

For more on what the increased loan limits mean see my earlier post. More as it becomes available.