Good news for a lot of taxpayers, the $168 billion economic stimulus package has been approved by Congress today. The stimulus is expected to provide the economy the financial help to avoid the most dreaded word: Recession.

Under the terms of the package, the single filers would receive a maximum of $600 rebate while the married couples will get a maximum of $1,200 rebate.

Moreover, parents would receive $300 for each child.

It should be noted that this stimulus package is targeted to benefit the middle to low income class. Because of this, single filers who make over $87,000 and married couples who make over $174,000 would not receive the rebate.

The rebates are expected to be distributed as early as May of this year.

So would this rebate really help the economy? What would you do with yours?