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Rebates being deposited Monday will help, Bush says

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Associated Press

WHITE HOUSE (AP) - President Bush says tax rebates will start going out Monday, but some Democrats are saying that the economic stimulus money will end up in the pockets of multinational oil companies.

Check to see when you'll receive your rebate.

At the White House this morning, Bush said direct deposits will begin Monday while paper checks will begin going out on May 9th. That's about a week earlier than previously announced.

Bush said the money should help people cope with rising gas and food prices and boost the economy out of an "economic slowdown."

But Senator Charles Schumer says he finds the situation "galling." The chairman of Congress' Joint Economic Committee says the average family will end up spending "almost their entire stimulus check on higher gas prices."

House Speaker Nancy Pelosi says a second stimulus package is needed and is being discussed with the White House and Congressional Republicans.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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