South Plains Residents React To National Stimulus Package - KCBD NewsChannel 11 Lubbock

2/10/08

South Plains Residents React To National Stimulus Package

Be on the lookout for money in your pockets care of the United States Government.

It's part of an economic stimulus package passed by Congress and headed to the president's desk this week. It's the hope of lawmakers in Washington that Americans will go out and spend the money - but are you going to?

The stock market closed Friday with the DOW losing 65 points. The Nasdaq gaining 12 -- and the S&P 500 down 6. It's the down numbers that give Washington hope that an economic stimulus package, expected to be signed by the president this week, will make people spend.

"I would spend it on shopping," one Lubbockite said.

And by people doing that, the government hopes those down numbers will go up and stimulate the economy.

Here is what you can expect for your rebate. If you're single and make up to $75,000 a year, you'll receive $600. Couples making up to $150,000 will receive a check for $1,200, plus $300 for every child. Low income Americans will receive $300.

However, many on the South Plains aren't planning to follow the government's plan for stimulus.

"I'm going to pay off either student loans or some credit cards," Calvin Roy said.

"Put it in our savings account," Larry Adams said.

"I know it's not the popular answer the government wants but I'm going to use it to pay off some credit cards and be closer to debt free," said Chris Britton.

Britton is married with one child. Under the plan his family would get $1,500 and Chris says the plan may help the economy but not his family.

"It would be a down payment on a jet ski or a four wheeler or something like that which would help, but it would hurt me long term because it would get me further into debt," he added.

The rebate check will be based on your 2007 tax return. So whether you plan on paying off debt like the Brittons, saving the money or spending it, if you are eligible for a check, you should receive it by summer.

get more>> Web Enhanced 2/7/08
Tips To Make Tax Time Easier
Don't wait in line, go on-line! The IRS Web site is a great resource for answers to tax questions that arise during the filing season.

  • Local News on KCBD.comNewsMore>>

  • Giuliani says White House wants briefing on classified info

    Giuliani says White House wants briefing on classified info

    Saturday, May 26 2018 1:13 AM EDT2018-05-26 05:13:07 GMT
    Saturday, May 26 2018 10:06 AM EDT2018-05-26 14:06:40 GMT
    (AP Photo/Andrew Harnik, File). FILE - In this May 5, 2018, file photo, Rudy Giuliani, an attorney for President Donald Trump, speaks in Washington.(AP Photo/Andrew Harnik, File). FILE - In this May 5, 2018, file photo, Rudy Giuliani, an attorney for President Donald Trump, speaks in Washington.
    President Donald Trump's legal team wants a briefing on the classified materials shared with lawmakers.
    President Donald Trump's legal team wants a briefing on the classified materials shared with lawmakers.
  • Ebola vaccinations begin in rural Congo on Monday: Ministry

    Ebola vaccinations begin in rural Congo on Monday: Ministry

    Saturday, May 26 2018 6:03 AM EDT2018-05-26 10:03:13 GMT
    Saturday, May 26 2018 10:06 AM EDT2018-05-26 14:06:08 GMT
    A vaccination campaign continues in Mbandaka, the city of 1.2 million where four Ebola cases have been confirmed. (Source: (Louise Annaud/Medecins Sans Frontieres via AP)A vaccination campaign continues in Mbandaka, the city of 1.2 million where four Ebola cases have been confirmed. (Source: (Louise Annaud/Medecins Sans Frontieres via AP)

    Congo says confirmed Ebola cases rise to 35, with 10 deaths, as vaccinations continue.

    Congo says confirmed Ebola cases rise to 35, with 10 deaths, as vaccinations continue.

  • Subtropical Storm Alberto heads to the US Gulf

    Subtropical Storm Alberto heads to the US Gulf

    Saturday, May 26 2018 5:23 AM EDT2018-05-26 09:23:12 GMT
    Saturday, May 26 2018 10:04 AM EDT2018-05-26 14:04:22 GMT
    A gradual strengthening is expected through the weekend as Alberto moves north. (Source: NOAA/CIRA/RAMMB/CNN)A gradual strengthening is expected through the weekend as Alberto moves north. (Source: NOAA/CIRA/RAMMB/CNN)

    A storm moving slowly through the Caribbean Sea is threatening to bring heavy rainfall, mudslides, and flash floods to parts of Mexico, Cuba, Florida and the eastern U.S. Gulf Coast this weekend.

    A storm moving slowly through the Caribbean Sea is threatening to bring heavy rainfall, mudslides, and flash floods to parts of Mexico, Cuba, Florida and the eastern U.S. Gulf Coast this weekend.

Powered by Frankly