The chances have increased that Congress could pass a second stimulus package during its lameduck session following the presidential election. The administration believes that many of the proposals being discussed would not stimulate the economy.
The first stimulus package was passed last February. It consisted mostly of tax rebates. The rebates were first sent out in late April and continued into the summer. I got mine in May and was very glad to get it. My sister didn't get one at all, and figured it was because she never worked in the public that year.
While they boosted consumer spending in the short-term, they didn't do so nearly as much as they boosted consumers' savings or ability to pay down debt.
The proposal would only apply to people who bought second or third properties over the next 18 months and held their properties for at least five years. That leaves me out, because I don't intend to buy anymore property and my house will be paid for in 3 years.
So it's a wait and see situation..........and if I get one ...........then I'll put it in the bank like I did the last one, in order to pay the house taxes this year.
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