President-Elect Barack Obama has already outlined broad tax cuts and refunds that he would like to sign into law by early February. The proposed stimulus package would allow companies posting losses last year to get refunds on taxes paid as far back as five years ago. The plan would also award companies for hiring new workers by giving the company a one-year tax credit.
Individuals and couples would get tax cuts of about $500 for most workers and $1,000 for couples.
The total cost of the package could cost $800 billion or more. To find our more about the stimulus package, read the full article from the Associated Press here.
MerchantCircle Community Relations