Stimulus Checks? When Will I Get My Rebate?

Filed in archive General on April 25, 2008

© mdid

You say you're ready to be stimulated? Or to do some stimulating (of the economy, that is)? Well, good news. They're going to start sending them out Monday:

The rebates range from $300 to $1,200 and are the centerpiece of the government's $168 billion economic stimulus package, enacted in February. Roughly 130 million households are expected to get them. The Bush administration is hoping people will spend the money, bolstering the economy.

...

The IRS says direct deposits of rebates will begin Monday, with paper checks to follow.

So, if you were smart enough to go for direct deposit, you might see some money from Uncle George next week. If you opted for a paper check, well...

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

The IRS says all checks for those who filed tax returns on time are scheduled to be deposited or mailed by July 11.

I'm guessing mine will show up July 10.

Treasury Secretary Henry Paulson sounds a bit overoptimistic if you ask me:

"Close to 8 million people will get their stimulus payments next week," he said.

"You add that to the incentives for business to make investments, we think that will give the economy a boost, upwards of 500,000 jobs"

That's about 10,000 new jobs per state. Actually, once I put it that way, that may not be very optimistic at all.