Bush and the House of Representatives are holding out the proposed Economic Stimulus Package as the shot in the arm that the U.S. economy needs to avert the coming recession.

The Chicago Tribune reports that the package, which comes with a $150 billion price tag, will give tax rebates to 117 million U.S. families.  How much money is coming your way?

Well, for individuals who make under $75,000 a year, the benefit will be $600.  It’s $1200 for couples who together make less than $150,000.  Also, there is an additional $300 rebate for every child, with no cap on the number of children.

There appears to be bipartisan support for the bill, and in order to become law, the bill must now pass the Senate. 

The government hopes that Americans will take the money and spend it, thereby stimulating economic growth.  However, many analysts are unsure if the package will create the desired effect, theorizing that Americans might save the money rather than spend it.

Lately, as Fashion Lawyer reported, U.S. retail sales have been plummeting, and the poor sales have been blamed on slow consumer spending.

How do you think the Stimulus Package will affect retail’s bottom line?  As always, comments are welcome and appreciated!