Tuesday, February 17, 2009

Highlights of Obama's Stimulus Package (Including COBRA subsidies)

Today the USA Today had an article that outlined some of the key points on Barack Obama's economic stimulus package and how it would impact Americans.

The story highlights:
  • $8,000 Tax Credit for first time home-buyers
  • Deducting the sales tax on new car purchases
  • $2,500 Tax Credit for parents who pay for their child's college education
  • $2,400 of Unemployment Insurance benefits are tax free
  • 65% reimbursement for COBRA health care insurance payments during the first 9 months of unemployment.
Now many of these benefits have income limitations, so be sure to read the tax rules carefully.

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