Will I receive money from the govt? ($600)?

[Coldkilla]

I'm a 20 year old college student still living at home. I had a full job for a few months, but it started to effect my 18 credit's grades. I quit that job and now am living off my savings for the duration of this year. What exactly qualifies or disqualifies me in this government rebate?

 

[MikeyLSU]

as of right now, you have to have made more than $3000 for the year.

 

[moshquerade]

Originally posted by: MikeyLSU
as of right now, you have to have made more than $3000 for the year.

and not be a dependent on your parent's income tax return.

 

[Injury]

I'll reserve my comments about the situation and say only that there is NOTHING set in stone right now as neither the House's proposed bill or Senate's proposed bill has passed (as of the 28th)

 

[jefa]

house passed

 

[EagleKeeper]

Need Senate concurance and/or Congressional agreement then on to the WH.

Nothing is concrete at this point.

I suspect that the Senate is going to through some monkey wrench into this.

 

[Regs]

Just in time for the elections! And we all get Election day off right?

 

[IceBergSLiM]

not if you keep touching yourself at night

 

[FoBoT]

the legistlation hasn't passed in the senate

wait until it is "law" , then we'll know for sure

 

[Tobolo]

House has passed and the senate has not. Senate is wanting to add billions of dollars worth of additional items, which, if passed will have to go back to the House.

 

[spidey07]

http://mcconnell.senate.gov/re....cfm?id=291429&start=1
"Washington, D.C. ? U.S. Senate Republican Leader Mitch McConnell released the following statement on Tuesday following House passage of the bipartisan economic growth package:

?An overwhelming bipartisan majority in the House quickly passed an economic growth package which neither raises taxes nor increases mandatory government spending. It is now the Senate?s turn to act to speed relief to American families and businesses. "

If the senate trys to add in more communist entitlements like giving kids free loot then please contact Senator McConnells office.

CONTACT INFO:
http://mcconnell.senate.gov/contact.cfm

 

[Queasy]

You may not get $600, but some illegal aliens will. Link

WASHINGTON ? The $146 billion stimulus package intended to jolt the economy by giving taxpayers rebates up to $1,200 includes cash returns for illegal immigrants who pay taxes.

Under the plan passed by the House, illegal immigrants who qualify as "resident aliens" and earned a minimum of $3,000 would be eligible for rebates of between $300-$600, FOX News has learned.

Only those illegals who have been assigned an Individual Tax Identification Number that allows them to file income taxes would be eligible. Resident aliens are defined as people who spend a "substantial" amount of time in the U.S. and have not been deported.

The provision has irked illegal immigration opponents, who say the assigning of TINs and collection of taxes from illegals sanctions their presence in the country.

Rep. Tom Tancredo, R-Colo., told FOX News that the bill will certainly stimulate "more illegal immigration."

The stimulus plan met with overwhelming bipartisan support Tuesday, passing the House 385-35 with little debate after House leaders and White House negotiators came to agreement last week.

Opponents of the illegal immigrant eligibility provision point out that the House considered the bill under "suspension of the rules." Suspension provisions allow the House to expedite bills and don't open them up to the usual amendment process.

The plan, which would send at least some rebate to anyone with at least $3,000 in income? with more going to families with children and less going to wealthier taxpayers ? faces an uncertain future in the Senate.

Senate Democrats and some Republicans support a larger package that adds billions of dollars for senior citizens and the unemployed, and reduces the rebate for individuals to $500 and $1,000 for couples.

The Senate version written by Finance Committee Chairman Max Baucus would deliver checks even to the richest taxpayers, who are disqualified under the House-passed measure.

Senate Majority Leader Harry Reid blasted the proposal to send rebates to those with higher incomes, saying it "causes me to want to gag." The feeling is widespread among Democrats, he added, saying the "the gag reflex is coming upon everybody" over the plan.

President Bush and House leaders urged the Senate to take the bipartisan agreement and pass it quickly, even as Baucus, D-Mont., planned a Wednesday vote in his committee on a larger package that could face a slower path.

"We need to get this bill out of the Senate and on my desk," Bush said in the Oval Office.

Congressional leaders are aiming to send the measure to Bush by Feb. 15. But the divergent plans ? and bids by Senate Democrats and Republicans to swell the package with more add-ons ? could drag out that schedule.

House Speaker Nancy Pelosi, D-Calif., said she hoped the Senate would "take this bill and run with it."

Reid, D-Nev., said that was unlikely in the freewheeling Senate, where members have elaborate wish-lists for adding to the bill, including food stamps, Medicaid and heating assistance for low-income people and spending on infrastructure projects, among other things.

"I think that there's 51 Democratic senators without exception who believe this package can be made better," Reid said, adding that he also expected to have enough GOP support to change it.

Sen. Mitch McConnell, R-Ky., the minority leader, said reopening the deal would be inappropriate.

"This is not a time to get into some kind of testing of wills between the two congressional bodies. This is a time to show we can rise above partisanship, do something important, and do it quickly," McConnell said.

The House plan brought together Democrats and Republicans, both of whom surrendered cherished proposals to reach a deal and cautioned against adding items that could hinder an economic recovery or scuttle the agreement.

"It's important that this bill not get overloaded. I have a full agenda of things I would like to have in the package, but we have to contain the price," Pelosi said. "We made a decision, because that's where we could find our common ground."

Americans "expect us to find ways to work together, not reasons to fight with each other," said Rep. John A. Boehner, R-Ohio, who forged the agreement with Pelosi in consultation with Treasury Secretary Henry M. Paulson.

"The sooner we get this relief in the hands of the American people, the sooner they can begin to do their job of being good consumers," Boehner said.

The measure would send rebates to some 111 million people, including roughly 35 million families who don't make enough to pay income taxes. Individuals with adjusted gross income of $75,000 and couples making $150,000 would get rebates equal to the taxes they paid, up to $600 for individuals and $1,200 for couples. Those making more than that would see their rebate go down by 5 percent of every dollar of income over the limits.

Taxpayers would get at least $300, even if they paid less than that in taxes ? or $600 for couples. That's also the case for those who don't pay income taxes but earn at least $3,000.

All eligible people would get an additional $300 per child.

In the Senate, Baucus' proposal removes the income caps and would send rebates to some 20 million senior citizens not covered by the House plan because they don't have income. Baucus' plan also extends unemployment payments for 13 weeks for those whose benefits have run out, with 26 more weeks available in states with the highest jobless rates.

The Senate measure would restore a business tax break dropped during the House negotiations that would permit corporations suffering losses now to reclaim taxes previously paid.

Both packages include roughly $50 billion worth of tax incentives for businesses to invest in new plants and equipment.

To address the mortgage crisis, the House bill would raise the limit on Federal Housing Administration loans from $362,790 to as high as $729,750 in expensive areas, allowing more subprime mortgage holders to refinance into federally insured loans. To widen the availability of mortgages nationwide, it also would boost the cap on loans that Fannie Mae and Freddie Mac can buy, from $417,000 up to $729,750 in high-cost markets. Those measures would expire at the end of the year.

Sen. Charles Schumer, D-N.Y, said Tuesday that he plans to ensure those changes are part of the Senate stimulus bill.

 

[Eeezee]

I heard the Senate wants to cut it to $500 (giving the other $100 to people on social security, who were going to receive nothing).

 

[ultimatebob]

Is the income cap for singles still at $75,000?

 

[RadiclDreamer]

Originally posted by: ultimatebob
Is the income cap for singles still at $75,000?

Yes, if you make $75k and are single you dont need it

 

[zebano]

There's nothing like deficit spending.

 

[Mxylplyx]

Do kids these days not know how to use google? Why so many threads asking this same question.

 

[spidey07]

Originally posted by: RadiclDreamer

Originally posted by: ultimatebob
Is the income cap for singles still at $75,000?

Yes, if you make $75k and are single you dont need it

This is very dangerous thinking. Very dangerous. "here, you don't need that, i'll just take some more and give to people that don't work."

 

[Turin39789]

Originally posted by: spidey07

Originally posted by: RadiclDreamer

Originally posted by: ultimatebob
Is the income cap for singles still at $75,000?

Yes, if you make $75k and are single you dont need it

This is very dangerous thinking. Very dangerous. "here, you don't need that, i'll just take some more and give to people that don't work."

It's more likely that someone who works makes less than 75k, than more.

Besides, this is just a $600 loan we didn't ask for that we will be paying back at 350000% interest over the next few decades.

 

[dawp]

it'll be a short term bump and nothing more, it's pandering to the public.it's not gonna help.

 

[illusion88]

Ahhh...
I haven't made $3000 this year so I guess I wont be getting it

 

[spidey07]

Originally posted by: dawp
it'll be a short term bump and nothing more, it's pandering to the public.it's not gonna help.

The tax cuts for capital spending for business are where the real help is going to come from.

 

[yuppiejr]

Originally posted by: RadiclDreamer

Originally posted by: ultimatebob
Is the income cap for singles still at $75,000?

Yes, if you make $75k and are single you dont need it

Brilliant, obviously the way to really promote economic growth is to take tax dollars paid by the most productive members of society with the greatest tax burden and gift it to losers who contribute nothing. Teabag the earners to win votes of the moochers. Good idea, comrade...

 

[TruePaige]

I WANT MY FREE MONEY!

 

[Reckoner]

an extra $600 going to bills..... I'll take it!