TOKYO Jan 9 The Bush administration is
considering tax rebates of about $500 for households and tax
breaks for businesses to help the economy avoid a recession, the
Wall Street Journal reported on Wednesday.
The White House's main options include a tax rebate of
perhaps $500 to encourage spending among individuals and a change
in tax laws that would allow companies to deduct from taxes a
substantial portion of new investment in equipment, the paper
said, citing sources familiar with the matter.
The article was cited by traders as giving a boost to the
dollar against the yen JPY= on Wednesday and helping Asian
stock markets recover from early losses. Japan's broad TOPIX
.TOPX stock index gained more than 1 percent.
The Journal said that President Bush is expected to prepare
an economic stimulus package before his State of the Union
address on Jan. 28.
Bush has also urged Congress to make permanent tax cuts
enacted since he took office in 2001 to help the economy's
(Reporting by Eric Burroughs; Editing by Rodney Joyce