Washington, D.C.—The economic stimulus rebate checks will start arriving to those Hoosiers who qualified this week.  The first of the stimulus checks will arrive Friday, May 2, 2008, for direct deposit issuers.  

“There are a lot of strains to the Hoosier pocket book—high energy costs, taxes, and increases in the cost of everyday living,” Congressman Buyer said.  “Every dollar is valuable and I am hopefully that the stimulus payments will give a little relief to the economic anxiety Hoosiers are feeling.” 

The Economic Stimulus Act passed the House of Representatives on January 29, 2008.  Congressman Buyer voted for this measure advocating that Hoosiers know best how to spend their own money rather then their federal government, especially in a time of economic uncertainty.

Issuers whose tax returns were received and processed by April 15, 2008 and receive direct deposits from the Internal Revenue Service (IRS) will receive the rebates in their bank accounts the first part of May.  Other issuers, whose returns were received by April 15 and receive paper checks from the IRS, will have to wait into July for their rebate.

A schedule for the stimulus payments by the last two digits of social security numbers follows:

Stimulus Payment Schedule for Tax Returns Received and Processed by April 15, 2008

Direct Deposit Payments:

 If the last two digits of your                  Your economic stimulus payment deposit 
Social Security number are:                 should be sent to your bank account by:

00 – 20                                                       May 2
 
21 – 75                                                       May 9
 
76 – 99                                                       May 16 

Paper Check:

If the last two digits of your                    Your check should be in the mail by:
Social Security number are:                  

00 – 09                                                      May 16
 
10 – 18                                                      May 23
 
19 – 25                                                      May 30
 
26 – 38                                                     June 6
 
39 – 51                                                     June 13
 
52 – 63                                                     June 20
 
64 – 75                                                     June 27
 
76 – 87                                                     July 4
 
88 – 99                                                     July 11   

Buyer believes a short term stimulus plan should compliment a long term growth strategy.  Ensuring that the tax cuts put in place to help hard working families do not expire in 2010, coordinated with cutting capital gains taxes and fixing the AMT are all ingredients in striking a balanced economic growth strategy.

###