As you might have heard, Wednesday the Congressional leaders agreed tentatively to a 2 year, $790 billion dollar stimulus package that would boost the economy and create 3.5 million jobs.

 I am including the details below.  They hope to have this package completed and on the Presidents desk on Monday, Feb 16th.

Total Tax Cuts
    $282 billion in total tax cuts, slightly more than the House bill

"Making Work Pay" Tax credit
    Individuals would get $400, families $800 in 2009 and 2010.

Alternative Minimum Tax fix
    $70 billion for a tax break to protect 24 million families from higher AMT

Social Security
    One time $250 payment to recipients of Social Security, Supplemental Security Income and veterans pensions and disability

Home buyer tax credit    
    A new $8,000 tax credit for buyers of new or existing homes. Home needs to be purchased between Jan 1, 2009 and November 2009. Could not have owned a home for at least 3 years. Phase out for couples with income over $150,000 and single filers with income over $75,000. Will pay back the credit if home is sold within 3 years. 

New car sales tax deduction
    Allows taxpayers to deduct the sales tax paid on new car purchases

Transportation infrastructure
    $50 billion for highways, bridges, mass transit, rail and airports

Education, other aid for states
    $54 billion in aid for states, $10 billion can go to modernize schools

Energy Assistance
   About $50 billion, including $11 billion for electric grid, $5 billion to insulate homes and $5 billion to fix federal bldgs.

Broadband Internet service
    $7 billion to expand broadband service, especially to rural areas

All the above are subject to change until the bill is signed by the President.