Sunday, January 27, 2008

927- EXPLAIN THIS PLEASE

CAN SOMEONE EXPLAIN HOW THIS WORKS
Congress asked for stimulus rebates for NMI
As the House
of Representatives prepares to pass an economic stimulus package next week, Resident Representative Pete A. Tenorio has teamed up with representatives from the other territories to get the benefits outlined for taxpayers in the 50 states to be extended to the taxpayers of the territories.
In letters to congressional leaders Tenorio wrote, “The tax rebates and child credit proposed in the agreement reached yesterday by the President and House leadership would be very beneficial not only to each family in the CNMI, but also to stimulate our economy as well.” He further requested that any rebates and credits available to CNMI residents be payable by the U.S. Treasury, and that anything else would be extremely harmful to the local economy and the already insufficient budget of the local government. The Whole Story
This I don't get at all. I may sound stupid, and if I do, then I am, but where do these rebates come from? CNMI taxpayers don't pay the federal government, so how are they gonna give rebates? Please someone write a comment explaining this 'cause I'm lost....
HELP ME OUT HERE, ANYONE THAT KNOWS!
.....GED.....

5 comments:

The Saipan Blogger アンジェロ・ビラゴメズ said...

In 2001, the rebates came out of your 2002 rebate, I believe.

We don't pay taxes, so we don't get a rebate, right?

I think they are just asking for a handout.

glend558 said...

Gets me, I don't know what this is about...

lil_hammerhead said...

If CNMI residents get rebates, they won't be the only people who don't pay taxes benefitting from the rebate portion of the stimulus package. 15 - 30 million individuals who don't pay any federal taxes will be receiving around $300 under the plan.

glend558 said...

Lil, how do you know this??

lil_hammerhead said...

It's been detailed in the coverage on stateside news for the last two weeks. They removed any increase in food stamp funding and one or two other welfare programs, but left in rebates for particular non-taxpayers. These particular folks number between 15 and 30 million and will receive around $300. Single working taxpayers will receive around $600. Married couples will receive approximately double that.

That's what the news about an hour ago re-repeated.