Millions of workers would soon see an extra $13 in their weekly paychecks and thousands of small businesses operating in the red could get tax refunds under the economic recovery bill nearing completion in Congress.
Businesses won’t fare as well as they did in earlier versions of the legislation. But most of the tax cuts for families and individuals were preserved, though some were reduced.
There are tax breaks for low-income families with children; college students; first-time homebuyers; people who buy new automobiles; and those collecting unemployment benefits.
The Obama administration says 95 percent of taxpayers will get relief.
“There are provisions that could pay you now and some that could pay you later,” said Amy McAnarney, executive director of the Tax Institute at H&R Block. “They’re going to give you money to spend, and then they’re going to give you incentives to spend it.”
In all, the $789 billion plan includes about $280 billion in tax cuts.
















