NEW YORK (CNNMoney.com) -- There are reports of a bipartisan deal that would send checks to most taxpayers as part of a $150 billion package designed to keep the U.S. economy from falling into recession, but it is possible that wealthier taxpayers could miss out on getting help.
Dow Jones and the Associated Press were reporting a deal had been reached Thursday morning. An announcement on the plan could come Thursday afternoon, two sources told CNN.
A planned Thursday morning meeting between Treasury Secretary Henry Paulson - who is negotiating on President Bush's behalf - and House Speaker Nancy Pelosi is on hold now, the sources said, while leaders on Capitol Hill sell the plan to their respective caucuses.
AP is reporting that Pelosi agreed to drop Democratic proposals for increases in food stamp and extended unemployment benefits during the Wednesday meeting in exchange for gaining rebates of at least $300 for almost everyone earning a paycheck, including low-income earners who make too little to pay income taxes but do pay payroll taxes to fund Social Security.
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