With a simple stroke of his pen, President Bush made the much talked about economic stimulus plan a reality Wednesday.
Flanked by congressional leaders, the President signed the plan, calling it a "booster shot for the economy."
So what does that "booster shot" mean for you?
Here's the bottom line: the rebates will be based on the tax returns due by April.
Individuals making less than $75,000 will get $600.
Couples making less than $150,000 will get $1,200.
The plan calls for all parents, no matter the income to get $300 for each child.
If you make less than $3,000 you'll get $300.
So, now that it's confirmed, people are already planning what to do with these tax rebates.
From buying clothes to saving cash for their kids to spend later, people are pumped about the President's economic stimulus package.
While everyone's financial situation is different, they're all relieved that the checks will be in their hands in just a few months.
Twenty five year-old, Shevlin Thomas is tired of digging money out of her pocket and dropping it on things like life's daily necessities and school loans.
She says, “Struggle is good for you is what I'm told.”
Thomas is thrilled to hear that the federal government will be cutting her a break, a $600 break.
She says, “Now, I finally get to take myself shopping and do whatever I want to do. I'm excited.”
Across the laundry mat, Nannette Lytle confirms it gets scary when you throw kids in the mix.
Lytle says, “There's a lot of families out there with kids and they really need it. I need it. It took me six months to find a job before I got here and landed this one. So, it's really hard out there right now.”
Lytle and her boyfriend have to make sure they work different shifts to take care of their kids and save money.
She says, “I couldn't imagine having to pay for child care and work a minimum wage job. We just couldn't do it.”
Even families who can afford some luxuries like taking karate classes together say they too are budgeting.
Jennifer Dear works full-time, while her husband is pursuing a graduate degree. She says the family of four needs that $2,100 check.
Dear says, “Basically, I look forward to the rebate check to pay off bills and work on some debt. We're certainly not going to spend $2,100 dollars on stuff we wouldn't have bought otherwise.”