Brian Naylor on the Stimulus Bill
President Bush said Friday that he will sign an expanded $150-billion stimulus package approved by the Senate, a measure likely to quickly pass in the House despite objections.
The plan would rush $600-$1,200 checks to many American consumers in hopes their spending will spur the faltering economy.
"We are in a period of economic uncertainty and we've acted again," Bush told a conservative conference. "I want to thank the members (of Congress) for passing a good piece of legislation, which I will sign into law next week."
The Senate changes add some 20 million seniors and a quarter-million disabled veterans living on social security to those getting rebate checks. They, along with other low income people, will receive $300.
Most middle income taxpayers earning up to $75,000 will get $600 dollar checks, while couples filing jointly will receive $1,200. Families with children would get an extra $300 per child.
Senate Democrats were forced to back off from a proposal to extend jobless benefits as part of the stimulus. The measure could reach the president's desk by the end of the week.