Dreier Votes to Approve Bipartisan
Economic Stimulus Plan

January 29, 2008

WASHINGTON, DC - Congressman David Dreier (R-San Dimas, CA), Rules Committee Ranking Republican, voted today to approve an economic stimulus package that will get rebates into the hands of millions of Americans and keep our economy moving forward.  The Economic Stimulus Package, H.R. 5140, was approved by the House with overwhelming bipartisan support, 385-35, with one member voting present.

“Keeping our economy on solid ground is a top priority,” Dreier said.  “The House today acted in a bipartisan way to move a simple, effective stimulus package quickly so that it can get to work for the American people.  I am proud to have supported this package and I am optimistic that we can build on this bipartisan effort.”

The Economic Stimulus Package will provide rebate checks to single taxpayers with adjusted gross incomes (AGI) of up to $75,000 and married couples with an AGI of up to $150,000.  The amount of the rebate check will be determined by the greater of two options: income tax paid in 2007, with a maximum of $600 for a single taxpayer and $1,200 for married couples, or $300 for an individual and $600 for a married couple, provided the individual or couple earned income of at least $3,000 in 2007.  For anyone qualifying for the base rebate, a children’s bonus of $300 per child will also be included, with no limitation on the number of children.

The Package also includes tax relief for small businesses, allowing employers to fully expense $250,000 in both new and used tangible property in the year it is purchased up to an overall investment limit of $750,000.  This will provide a strong incentive for small businesses to invest in their businesses so they can continue to provide good-paying jobs for the American people.