Bush says tax rebates should aid economy


Friday, April 25, 2008 | No comments posted.

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WASHINGTON — President Bush says the economic-stimulus tax rebates will begin going out Monday and will help people cope with lofty energy and food prices, as well as giving the economy a jolt.

The rebates range from $300 to $1,200 and are the centerpiece of the government’s $168 billion stimulus package, enacted in February, to brace the teetering economy. Roughly 130 million households are expected to get them.

“This money is going to help Americans offset the high prices we’re seeing at the gas pump, at the grocery store, and will also give our economy a boost to help us pull out of this economic slowdown,” Bush said Friday in brief remarks at the White House.

Bush estimated that next week nearly 7.7 million Americans will receive their tax rebates by direct deposit.

The IRS will start mailing checks on May 9, the president said.

4.2 quake shakes Reno residents

RENO, Nev. (AP) — A swarm of earthquakes capped by a 4.2 magnitude quake rattled Reno on Thursday afternoon, shaking downtown buildings and putting residents on edge throughout the city.

Some cracked windows and damaged roof tiles were reported in northwest residential areas but there were no immediate reports of injuries or major damage.

The 4.2 temblor hit at 3:55 p.m. and was centered six miles west of Reno, the U.S. Geological Survey said. It shook downtown Reno for about 30 seconds and caused buildings to sway.

“It was unnerving,” said Wanda Lopshire, who was working at the downtown Washoe County District Court building. “It physically moved my body. I could feel things shaking.”

The Geological Survey said a 4.1 magnitude trembler hit minutes earlier, and more than 30 other small quakes were reported.
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