Thursday, January 24, 2008

150bn Dollar Bank Bail-out

The White House and the Democrats in Congress have agreed a $150bn (£76bn) economic stimulus package that will offer tax rebates to boost growth.

House of Representatives Speaker Nancy Pelosi said Congress would act on the deal "at the earliest date, so those rebate cheques will be in the mail".

Some 117 million US homes will receive a rebate of up to $600 for individuals and up to $1,200 for married couples.

Washington is moving fast to try to avoid the US falling into a recession.

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