prancingbull.com

A visit to the US Treasury website will show you a state by state breakdown of how the Economic Stimulus Act of 2008 will affect Americans. The US Treasury estimates that 131.8 million Americans will benefit from this act, with California being the state with the most affected at 14.7 million people. The US Treasury projects that the total reduction in income taxes paid will be $112 billion. This equates to $849 per affected person.

$849 per person seems a bit high, since each parent can get up to $600 with a $300 credit per child up to two. I guess these results suggest that there are quite a few single parents out there with two kids or more. The US Treasury gives a probable reason for this discrepancy on the report. They say that “The proposal extends tax benefits to significant numbers of tax units that did not file during calendar year 2007. The estimates for these units are based on the characteristics of filing units and are therefore subject to greater standard errors and bias.”

You can see the entire two-page pdf report here.

Many people may be wondering how much exactly they will be getting. The US Treasury has a nice five-page pdf file that shows how much money a person will receive under just about any imaginable scenario. You can view the report here.