Jan 212009

Well, yesterday we saw the inauguration of a new president with many promises of change just around the corner.

Of course, among the many other, much larger, issues that are pressing on this country right now, we have to wonder how this will affect our own personal finance situation.

Specifically, how will President Obama’s stimulus plan change your financial situation.

There’s an interesting article here that covers some of the basics.  A lot of specifics–at least in a general sense.  For instance: “$145 billion in tax cuts for working individuals.  The tax cut would be $500 per person ($1,000 for a couple) and would phase out for people making over $75,000 a year ($150,000 for couples). You can get the money either by claiming it on your tax return, or through a reduction in the taxes that are taken out of your weekly paycheck.”

This will obviously be one of the biggies, but the article also mentions quite a few other programs–notably many improvements to the nation’s infrastructure, the education system and healthcare.

It will definitely be interesting to see where this goes.

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