Bush’s Economic Stimulus Act has been passed by congress and will help taxpayers across the nation.

The Economic Stimulus Act is basically a rebate for tax payers. Everyone who filed a 2007 tax return and has a social security number is eligible. Payments will be made up to $600 plus additional amounts for their dependents. The IRS will determine eligibility and payment amounts and ship out the checks in May.

In January a first draft of the bill was passed by the House of Representatives, at which point it was sent to the Senate. After a few modifications the Senate passed the act. That same day, the modified version was sent back to the House where it was also passed. On Feb. 13 it was signed into law by President Bush.

The purpose of this extra cash is to fuel the economy. It will probably be used in a variety of ways. In any case it will definitely help the country. “If it’s going to boost the economy it’s probably a good thing, and if I’m getting money it’s also a good thing,” Daniel Martinez, 18, said.

For college students this money can be a big help. With tuitions, books, and everything else we as students pay for this extra cash will be a big relief. “I think it’s great for students, Renato Pena, 18, said. That’s money for books, to pay your classes, [and] for any necessities for school.”

By now most people eligible for this money have received a letter from the IRS. That letter gives an overview of eligibility for receiving payment. It also contains all the details of how much people will receive for themselves and their dependents.

So when you get your money just remember the government wants you to spend it. Go out and treat yourself to something or things you have wanted for a while.