US government begins tax rebates to stimulate economy

AFP (28 April 2008)

The US government began giving out tax rebates Monday in hopes the instant cash will spark consumer spending to revive an economy many analysts believe is in recession.

The Internal Revenue Service (IRS) said it had begun to transfer economic stimulus payments to "millions of Americans," some of whom would see payments in their bank accounts the same day. [read more]

How effective will this be? Read also:

• Wall Street watches for where rebates go (May 7 2008)
  
• What Uncle Sam Gives in Rebates, OPEC Takes, Stalling Economy (May 5 2008)
• Only 30 percent of Bush tax rebates to be spent: Survey (May 2 2008)
  
• US tax rebates to push gadget sales (May 1 2008)
• Can the US economy be revived? (Analysis) by Steve Schifferes - BBC News economics reporter (April 30 2008)