WASHINGTON, DC – U.S. Senator Pat Roberts today voted in favor of the bipartisan and sweeping economic stimulus package bringing tax relief to Kansans and providing a boost to the economy. The bill passed the Senate and now returns to the House where key changes are expected to be accepted before the bill is approved and sent to the president to be signed into law.

    “I am pleased we could put politics aside and pass this stimulus for the American people,” Senator Roberts said. “The package will provide tax rebates for individuals and families, encourage businesses to make investments, expand and create jobs, giving a shot in the arm to our economy.”

    The bill contains an amendment Senator Roberts supported that ensures low-income seniors, disabled veterans and widows of veterans receive the rebate. In addition, it  prevents illegal immigrants from receiving the rebates.

    Key provisions of the stimulus package:

Tax Relief for Individuals and Families:  

•    A tax rebate of $600 for an individual taxpayer and $1,200 per couple for those who pay income taxes;
•    A tax rebate of $300 per individual and $600 per couple for those who do not pay income tax, but have at least $3,000 of annual income;
•    An additional $300 per child rebate is provided, with no cap on the number of children for anyone qualifying for the rebate.

    The rebate will be based on 2007 returns and will be phased-out for individuals with adjusted gross incomes (AGI) over $75,000 and couples with incomes over $150,000.

Tax Relief for Businesses:
•    The bill allows businesses to deduct 50 percent of their equipment and machinery in the year it is purchased, rather than deducting it over many years. This benefit is available to businesses of all sizes.

•    The bill also doubles the expensing (deduction) limit for small businesses to $250,000.

    Senator Roberts is a member of the Senate Committee on Finance, which has jurisdiction on tax matters.

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