Leave your feedback Share Copy URL https://www.pbs.org/newshour/show/stimulus-plan-focuses-on-rebate-checks-incentives Email Facebook Twitter LinkedIn Pinterest Tumblr Share on Facebook Share on Twitter Transcript Congressional leaders and the White House reached an agreement Thursday for an economic stimulus package that would include rebate checks for millions of taxpayers and incentives for businesses to invest in new capital. A panel of economic experts examines how the proposal may help ease economic concerns across the country. Read the Full Transcript Notice: Transcripts are machine and human generated and lightly edited for accuracy. They may contain errors. RAY SUAREZ: The deal was announced after a week of intense negotiations among the House Democratic and Republican leadership and the White House, represented by Secretary of the Treasury Henry Paulson.The centerpiece of the $150 billion plan is a tax rebate, which would give more than 100 million Americans money. Individuals making less than $75,000 a year in adjusted gross income and couples making less than $150,000 are eligible. Low-income workers who made at least $3,000 last year, but too little to file income taxes, would also receive $300. Other provisions include: a business incentive that would allow a 50 percent deduction on the purchase of new equipment; and businesses could write off a larger share of current losses against previous tax years.Not included in the plan were: an increase in food stamp allocations; and there was no extension of long-term unemployment benefits.To deal with the housing crisis, the plan also expands the Federal Housing Administration's ability to insure higher priced mortgages. The speaker of the House, Nancy Pelosi, said she would not hesitate to push further measures if the present bill didn't prove effective.REP. NANCY PELOSI (D-CA), Speaker of the House: I can't say that I'm totally pleased with the package, but I do know that it will help stimulate the economy. And if it does not, then there will be more to come. RAY SUAREZ: The Republican leader in the House, John Boehner.REP. JOHN BOEHNER (R-OH), House Minority Leader: The beauty of this package is that it is simple, it is clean, it is neat, and it will get the money back out into the American economy as quickly as possible. RAY SUAREZ: A short time later at the White House, Secretary Paulson said the rebate checks could start going out as little as 60 days after passage of the bill.