$152bn US package set for Wednesday

President George W Bush said today he would sign a $152-billion package on Wednesday aimed at warding off recession in the US…

President George W Bush said today he would sign a $152-billion package on Wednesday aimed at warding off recession in the US economy.

When asked on Fox News Sunday whether he would consider further action if the economy continued to sputter, Mr Bush said: "We just have to play it by ear."

After a brief spat over the value of the package, the Senate and House of Representatives on Thursday agreed to a measure that would provide one-time rebates of up to $600 for individuals or $1,200 for couples plus $300 for each child.

Low-income people, including retirees on Social Security and disabled veterans who pay no income taxes, would receive $300 within months.