Washington, DC – Congresswoman Carol Shea-Porter today applauded the enactment of the bipartisan economic stimulus package after President Bush signed the plan into law this afternoon. Over 600,000 New Hampshire families will receive rebates averaging $833 as part of the plan to help jumpstart the struggling economy.

“I’m very pleased that the President listened to Republicans and Democrats in Congress who put together a stimulus package to assist their fellow Americans,” said Congresswoman Shea-Porter. “President Bush’s policies have created a difficult situation for the poor and the middle class. While we have not been able to help all those who have been affected, this was a strong bipartisan effort, and I was pleased to work with the House to get this done.”

The broad-based stimulus package would provide a tax rebate to 130 million American families. The rebates of up to $600 per individual and $1,200 per married couple, plus an additional $300 per child, could be issued as early as May. The package also includes a measure requested by Congresswoman Shea-Porter to provide rebates to anyone who receives at least $3,000 in Social Security income, self-employment income, or veterans’ disability payments.

In addition to the tax rebates for families, the legislation includes $44 billion in tax cuts and incentives for businesses.

“I have been particularly worried about small businesses in New Hampshire, and this package eases their economic burden by immediately doubling the amount that small businesses can write off on their taxes for capital investments made in 2008,” said Shea-Porter.

The bill will also speed up depreciation provisions so that firms can write off an additional 50 percent for investments purchased in 2008.

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United States House of Representatives
Office of Congresswoman Carol Shea-Porter
1508 Longworth House Office Building • Washington, DC 20515

Media Contact: Clark Pettig
(202) 225-5456 phone • (202) 225-5822 fax •
http://shea-porter.house.gov/