Congress Passes Stimulus Bill

Updated from 9:01 a.m. EST

Congress on late Thursday approved a $168 billion stimulus bill designed to boost the sagging economy through tax rebates and business tax breaks, after Senate Democrats dropped demands for additional spending that threatened to sink the bill.

The Senate demands included extended unemployment benefits, home heating subsidies for the poor and some additional tax breaks for seniors and disabled veterans. The final version included the latter.

The bill calls for individuals earning up to $75,000 and couples earning up to $150,000 to earn rebates of as much as $600 and $1,200, respectively. Taxpayers receiving the rebates additionally will receive $300 a child. Rebates are for the 2007 tax year, and the Treasury Department will begin mailing checks in May....