Economic Stimulus Agreement Earns Praise

By: AP
By: AP

WHITE HOUSE (AP) _ President Bush is praising a bipartisan economic stimulus package that will give most tax filers refunds of $600 to $1,200. Some will get more if they have children.

The president says the deal "has the right set of policies and is the right size."

According to a Democratic survey, the rebates will go to 117 million families. An analysis by Congress' Joint Tax Committee says more than 70 percent of the rebates will go to individuals who pay taxes.

House Speaker Nancy Pelosi says Congress will act on the agreement quickly so that rebate checks can be put in the mail. Aides say the rebates, expected to go out in June, will cost about $100 billion.

The deal comes after intense negotiations between Pelosi, Republican Leader John Boehner and Treasury Secretary Henry Paulson.

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