We have a deal! Well, a tentative one at least.
Democratic and Republican congressional leaders reached a tentative deal on tax rebates of $300 to $1,200 per family and business tax cuts to jolt the slumping economy.
Congressional officials close to the negotiations said House Speaker Nancy Pelosi and Republican Leader John Boehner of Ohio reached agreement in principle.
The officials, speaking on condition of anonymity, said the two wanted key members of their parties to sign off on the accord before any announcement.
Pelosi agreed to drop increases in food stamp and unemployment benefits in exchange for gaining rebates of at least $300 for almost everyone earning a paycheck, including low-income earners who make too little to pay income taxes.
Families with children would receive an additional $300 per child, subject to an overall cap of perhaps $1,200. Rebates would go to people earning below a certain income cap, likely individuals earning $75,000 or less and couples with incomes of $150,000 or less.
Developing
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