Here’s a detailed breakdown on What’s In, What’s Out and Who Benefits from President Obama’s Economic Stimulus Package:

WHAT’S IN

• Tax rebates: Checks of at least $300 for almost everyone earning a paycheck, including low income earners who make too little to pay income taxes, so long as they earned at least $3,000 in 2007. Families with children would receive an additional $300 per child, while those paying income taxes could receive higher rebates.
• Business tax write-offs: Spur business investments with bonus depreciation and more generous expensing rules.
• Housing rescue: Allow more subprime mortgage holders to refinance into federally insured loans by raising the limit on Federal Housing Administration loans from $362,790 to as high as $729,750 in expensive areas. Increase the availability of mortgages by providing a one-year boost to the cap on loans Fannie Mae and Freddie Mac can buy, from $417,000 up to $729,750 in high-cost markets.

WHAT’S OUT

• Permanent tax cuts: Republicans conceded that their top priority would have to be left out.
• Unemployment insurance: Democrats wanted to extend benefits past 26 weeks.
• Food stamps: A boost for benefits.
• Medicaid: Democrats gave up on including Medicaid payments to states.
• Low-income heating subsidies: Democrats are surrendering the fight to include them.
• Infrastructure spending: Spending on transportation or repair projects already under way is off the table.

Who benefits from the rebate plan

How Americans in different financial situations would fare under the rebate plan proposed by House leaders and the White House.

• An individual with $2,500 in earned income in 2007: Disqualified because income fell below the $3,000 threshold. No rebate.
• A married couple with no children, with adjusted gross income of $100,000 in 2007: Would qualify for the full $1,200 for couples. A $1,200 rebate.
• A worker with one child, who earned $9,000 and owed no taxes in 2007: Would qualify for the $300 rebate available to individuals who pay no taxes but earned at least $3,000, plus an additional $300 for the child. A $600 rebate.
• A couple with income of $145,000 in 2007, with three children: Would qualify for the full $1,200 for couples, plus $300 for each child. A $2,100 rebate.
• A couple with income of $160,000 in 2007 with two children: Would qualify for a partial rebate, reduced by 5 percent for every $1,000 in income above the $150,000 threshold. An $1,800 rebate – $1,200 for the couple plus $300 per child – would go down by 50 percent for this family. A $900 rebate.
• A couple with income of $200,000 and four children: Disqualified because their income exceeded $174,000, the phase-out limit. No rebate.
• An individual with adjusted gross income of $23,000 and no dependents would get a rebate of $600.
• A couple with adjusted gross income of $160,000 and two children would get a rebate of $1,300.
• A couple with adjusted gross income of $184,000 and two children would get a $100 rebate.

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