Compromise could send $600 rebates to most taxpayers in effort to spur spending and head off recession. Those earning more than $75,000 reportedly could be left out.
Congressional leaders and Bush administration officials have reached a deal on an economic stimulus package that would send $600 to more than $1,200 to most taxpayers in an effort to keep the economy from falling into recession.
Sources told CNN that the deal would pay most taxpayers $600 and two-wage-earner households as much as $1,200. A Democratic aide and a Republican aide said the deal will include an additional amount per child amounting to about $300.
The main exception will be higher income taxpayers - individuals earning $75,000 or more or couples earning $150,000 or more, would not get the rebate checks, sources told CNN.
Earlier proposals to increase food stamps and extend unemployment benefits are not part of the agreement. But some low-income taxpayers who owe no income tax will get rebates, although they could be for less than $600.
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