Politics | George W. Bush Bush Pitches $145B in Tax Relief Stimulus plan includes business incentives, individual rebates By Jonas Oransky Posted Jan 18, 2008 11:54 AM CST Copied President Bush, accompanied by Vice President Dick Cheney, left, makes a statement on the economy, Friday, Jan. 18, 2008, in the Roosevelt Room of the White House in Washington. (AP Photo/Ron Edmonds) (Associated Press) President Bush today called for a $145 billion stimulus package to stop the economy from sliding into a recession, the Wall Street Journal reports. A bipartisan plan loaded with compromises is likely in the near future. Valued at 1% of GDP—and in line with dollar amounts suggested by the Fed—Bush’s plan includes tax relief for individuals and business incentives. "Letting Americans keep more of their money should increase consumer spending," said Bush. Congress is expected to act quickly despite Democrats' anger over Bush's revealing his plan without seeking a compromise. Republicans will be asked to support extending jobless benefits and have apparently dropped demands for making tax cuts permanent. Democrats, who want to eliminate rebates for the wealthy, may entertain the business breaks. Read These Next Ex-political candidate mired in sex tape scandal now has legal woes. Eisenhower Library boss is out after dispute over king's gift. A megachurch pastor is going to jail for abusing a girl decades ago. Judge gives Combs prison. Get breaking news in your inbox. What you need to know, as soon as we know it. Sign up Report an error