Congressional leaders have reached a deal for US Taxpayers and businesses to receive rebates as an effort to stimulate the economy.
As being reported here on Yahoo, the details of the tax rebate have been announced. Most tax filers will receive refunds between $600 and $1200 and more if they have children. To address the mortgage crisis, the package also raises the limits on Federal Housing Administration loans and home mortgages that Fannie Mae and Freddie Mac can purchase to as high as $725,000 in high-cost areas. Those are considerable boosts over the current FHA limit of $362,000 and the $417,000 cap for Fannie Mae and Freddie Mac's loan purchases.
Since this story was posted, there has been a bit of "bog-down" in the US Senate, but all sides agree that the relief will be granted and US taxpayers should see the simulus in May or June of 2008.