<P> The Economic Stimulus Act of 2008 ( Pub. L. 110 -- 185 , 122 Stat. 613 , enacted February 13 , 2008 ) was an Act of Congress providing for several kinds of economic stimuli intended to boost the United States economy in 2008 and to avert a recession , or ameliorate economic conditions . The stimulus package was passed by the U.S. House of Representatives on January 29 , 2008 , and in a slightly different version by the U.S. Senate on February 7 , 2008 . The Senate version was then approved in the House the same day . It was signed into law on February 13 , 2008 by President Bush with the support of both Democratic and Republican lawmakers . The law provides for tax rebates to low - and middle - income U.S. taxpayers , tax incentives to stimulate business investment , and an increase in the limits imposed on mortgages eligible for purchase by government - sponsored enterprises ( e.g. , Fannie Mae and Freddie Mac ) . The total cost of this bill was projected at $152 billion for 2008 . </P>
the stimulus package proposed by the bush administration in early 2008 relied upon
tax rebates U.S. taxpayers increase in the limits imposed on mortgages eligible for purchase by government - sponsored enterprises