| The US government will deliver tax rebates to US consumers as part of a bipartisan $150bn (£75.4bn) plan to revive the battered economy.
The Internal Revenue Service (IRS) expects to make 800,000 electronic deposits over the first three days of this week. A further five million rebates are to go out on Friday. |
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This decision will result in benefit for 117 million homes. Individuals will get up to $600 and married couples could see up to $1,200.
In the first step payments will go to people who opted for direct deposit, when they filed their 2007 income tax returns.
People who chose direct deposit will receive their economic stimulus payments the quickest
IRS commissioner Doug Shulman said.
Rest of the people who did not opt for direct deposits will get cheques, the first of which will go out on 9 May. Most rebates are expected to be sent by mid-July.
Consumer spending accounts for two thirds of the US economy. The rebates are the single most important feature of the economic stimulus plan that was signed into law in February but businesses will also benefit from $50bn in tax cuts.
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