FOR IMMEDIATE RELEASE                   CONTACT: Brooke Borkenhagen

February 13, 2007                                               Office: (202) 225-5206

Rebate Checks for Working Americans on the Way
Hodes’ tax relief for small business included in final stimulus package

WASHINGTON, DC – President Bush signed into a law the bipartisan Economic Stimulus package this afternoon — a bill which Congressman Paul Hodes supported, and which included his proposal to give tax incentives to small businesses.  The stimulus plan provides all working, middle class families with a tax rebate.  600,000 New Hampshire families will receive an average refund of $833.  Checks could be in the mail as early as mid-May. 

“New Hampshire families need and deserve some of their money back to help them through this tough time,” Congressman Hodes said.  “These tax rebates will relieve some of the squeeze on middle class families.” 

Congressman Hodes contributed legislation to the final package: a measure to provide tax relief and investment incentives for small businesses.  Small businesses represent over 60% of all businesses in the Granite State and are a key creator of jobs and prosperity in the state.

Bill Langille, owner of Barchelder Biodiesel Refinieries in Derry, said that Hodes’ small business incentives will help his company.  “With this tax relief we would expect to purchase equipment for at least 2 refineries, and those refineries would support an additional 6 jobs,” said Langille. 

“Tax relief is the right thing to do to help New Hampshire’s small business owners, create jobs, and spur new investment into the economy,” said Congressman Hodes.

Congressman Hodes also co-sponsored legislation to extend tax relief to 20 million seniors.  In the previous version of the stimulus, social security benefits were not defined as earned income, which is necessary in order to qualify for a rebate.  Companion legislation to the House bill was added in the Senate and was included in the final stimulus package, which will put hundreds of dollars into the pockets of seniors.

“Seniors on fixed incomes deserve some relief during this difficult economic time,” Hodes added.  “I am proud that our final package values our seniors, and also honors our disabled veterans by extending rebates to them.”

Economists agree that these rebate checks will get money to Americans who will spend it immediately, which will help to reinvigorate the economy.

Attached is Congressman Hodes’ fact sheet on tax rebates, to help Granite Staters determine the amount of their forthcoming rebate check.  Checks are expected to arrive in New Hampshire as early as mid-May.