Under the $1.35 billion tax cut package President Bush is getting ready to sign, single taxpayers would get a rebate on this year's taxes of up to $300, and couples would get a rebate of up to $600.
The income limit for a single person applying for the rebate is 18,586 and for couples it is $22,791.
With a recession looming when he took office, Mr. Bush pushed through, under the mantle of stimulating economic growth, a tax reduction for individuals -- complete with $300 rebate checks for single taxpayers and $600 for couples last year -- and a host of other tax breaks that are to be phased in over the next several years.
In contrast, brand name or drugs with a single source must pay a 23.1percentt rebate and an additional amount if price hikes occurred faster than inflation.
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For Republicans, the most politically beneficial moment may come this summer, when those who paid income taxes for last year begin to receive rebate checks, $300 for single filers and $600 for those who filed joint returns.
Most single income-taxpayers can count on a rebate check this year of $300.
Rebates would be limited, however, to single taxpayers with adjusted gross income up to $75,000 -- up to $150,000 for couples.
And wealthy California buyers will also miss out: Starting last week, state rebates were no longer available to single filers earning more than $250,000 a year, head-of-household filers making more than $340,000 and joint filers making a combined $500,000.
The new system would combine into a single payment the current non means-tested child care rebate and the means-tested child care benefit.
