Albuquerque Journal (Albuquerque, NM)

Republicans, Dems Support Tax Rebate.

Byline: Michael Coleman Journal Washington Bureau

WASHINGTON Senate Democrats and Republicans want to use $60 billion of the federal surplus to give taxpayers an immediate rebate, but they remain divided on the size of future tax cuts.

Senate Budget Committee Chairman Pete Domenici, R-N.M., last week proposed an immediate $60 billion rebate for taxpayers in an attempt to help stimulate the economy. Sen. Kent Conrad, D-N.D., the ranking Democrat on the budget committee, had earlier proposed an immediate rebate of between $60 billion and $80 billion.

The money could result in a $300 payment to every American taxpayer. The rebates would be paid for out of the roughly $95 billion surplus expected to be left over after Social Security and Medicare budget needs are met, both men said. …

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