No one answers whether rebate must be repaid or not.
I've called members of Congress. I searched various articles about the current stimulus package as well as the former one. No congressional staff member I've contacted was able to tell me whether the rebate check to be mailed to many citizens will have to be repaid. Surely someone knows.
It is also very disconcerting that the articles discussing the rebate and misinforming readers about it do not mention the probability of required repayment. The NYT, in one of its articles interchangeably called the proposed payments stipends and rebates.
I've always thought a rebate was a partial refund following a purchase and a that a stipend is a fixed and regular payment, like a salary. Neither seems to apply. If such a word as 'prebate' existed, that might be close.
How does giving loans to be repaid next year help folks here? The CEO's of Circuit City and Best Buy, as well as their suppliers in China might do well from it but not most of us. More to the point, how much might the economy tank at next year's tax time if $1,800 (2 adults, s kids) is removed from what might otherwise be available to the majority of taxpayers.
Constantly robbing Peter to pay Paul, leaves Paul pretty happy but a dissatisfied Peter. Misinforming Peter about what has happened makes things worse.