Stimulus Package Could Create 600,000 Jobs According to Paulson

Today U.S. Treasury Secretary Henry Paulson announced that an economic stimulus program that puts $168 billion into consumers' hands this year and in 2009 could help create hundreds of thousands of new jobs.

Published on March 28, 2008

"We know they're going to be helpful," Paulson said on CNN television. "These (tax rebate) checks should be a big part of adding 500,000 to 600,000 additional jobs this year."

Some 130 million Americans are to get tax rebate checks up to about $600 for individuals and $1,200 for couples, with the first of the checks to start flowing in early May.

On other issues, Paulson said it was important to maintain stable, orderly financial markets and said the Treasury was trying to help mortgage-holders who are in difficulty voluntarily work out repayment options with lenders.

Treasury announced earlier this week that the Internal Revenue Service will keep about 320 offices open on Saturday to encourage an estimated 20 million Americans who do not normally file a tax return to do so.

Only people who file returns will be eligible for rebate checks.