United States · Law · HR
H.R. 5140 (110th)
Economic Stimulus Act of 2008
Introduced
28 January 2008
Last action
13 February 2008 · President
Status
Became Public Law No: 110-185.
Sponsors
Rep. Pelosi, Nancy [D-CA-11], Rep. Boehner, John A. [R-OH-8], Rep. Hoyer, Steny H. [D-MD-5], Sen. Blunt, Roy [R-MO], Rep. Clyburn, James E. [D-SC-6], Rep. Rangel, Charles B. [D-NY-15], Rep. McCrery, Jim [R-LA-4], Rep. Obey, David R. [D-WI-7], Rep. Frank, Barney [D-MA-4], Rep. Bachus, Spencer [R-AL-6], Rep. Emanuel, Rahm [D-IL-5], Rep. Larson, John B. [D-CT-1], Rep. Granger, Kay [R-TX-12], Rep. DeLauro, Rosa L. [D-CT-3], Rep. Miller, George [D-CA-11], Rep. Becerra, Xavier [D-CA-34]
Subjects
Housing, Taxation
Source updated
7 April 2025
Summary
Recovery Rebates and Economic Stimulus for the American People Act of 2008 - Amends the Internal Revenue Code to: (1) grant tax rebates of the lesser of net income tax liability or $600 to individual taxpayers in 2008 ($1,200 to married couples filing joint returns, plus $300 for each dependent child); (2) provide for a minimum tax rebate of $300 ($600 for joint returns) for taxpayers with earned income of at least $3,000; (3) increase to $250,000 in 2008 the expensing allowance for depreciable business assets; and (4) allow business taxpayers a 50% bonus depreciation allowance for equipment placed in service in 2008. Reduces taxpayer rebates by 5% of the amount that exceeds an adjusted gross income of $75,000 ($150,000 for joint returns). Raises the statutory ceiling on the maximum original principal obligation of a mortgage, originated between July 1, 2007, and December 31, 2008, that may be purchased by either the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac). Expresses the sense of Congress that Fannie Mae and Freddie Mac should securitize mortgages acquired pursuant to the increased conforming loan limits of this Act, if the manner of securitization does not: (1) impose additional costs for mortgages originated, purchased, or securitized under existing limits; or (2) interfere with the goal of adding liquidity to the market. Establishes a temporary loan limit increase for mortgages in specified high-cost areas if the borrower receives credit approval by December 31, 2008. Grants the Secretary of Housing and Urban Development (HUD) discretionary authority to increase loan limits for a specified period.
This text is taken from the official record. PoliticalRepo does not editorialize.
Timeline
28 January 2008
Introduced
Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Source: IntroReferral
28 January 2008
Introduced
Introduced in House
Source: IntroReferral
28 January 2008
Introduced
Introduced in House
Source: IntroReferral
28 January 2008
Introduced
Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Source: IntroReferral
29 January 2008
Calendars
Received in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
Source: Calendars
29 January 2008
Passed
Motion to reconsider laid on the table Agreed to without objection.
Source: Floor
29 January 2008
Vote
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 385 - 35, 1 Present (Roll no. 25).(text: CR H485-487)
Source: Floor
29 January 2008
Floor
DEBATE - The House proceeded with debate on H.R. 5140.
Source: Floor
29 January 2008
Floor
Considered under suspension of the rules. (consideration: CR H485-509)
Source: Floor
29 January 2008
Vote
On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 385 - 35, 1 Present (Roll no. 25). (text: CR H485-487)
Source: Floor
29 January 2008
Floor
Mr. Rangel moved to suspend the rules and pass the bill.
Source: Floor
30 January 2008
Calendars
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 566.
Source: Calendars
31 January 2008
Floor
Motion to proceed to consideration of measure made in Senate. (consideration: CR S530)
Source: Floor
4 February 2008
Vote
Cloture on the motion to proceed to the measure invoked in Senate by Yea-Nay Vote. 80 - 4. Record Vote Number: 5. (consideration: CR S580-589, S589-591, S591-594, S596; text: CR S581)
Source: Floor
5 February 2008
Floor
Motion to proceed to measure considered in Senate. (consideration: CR S626-627, S627-636, S637-638, S655)
Source: Floor
6 February 2008
Floor
Considered by Senate. (consideration: CR S715-725)
Source: Floor
7 February 2008
Action
Cleared for White House.
7 February 2008
Passed
Motion to reconsider laid on the table Agreed to without objection.
Source: ResolvingDifferences
7 February 2008
Vote
On motion that the House agree to the Senate amendment Agreed to by the Yeas and Nays: 380 - 34 (Roll no. 42). (text as House agreed to Senate amendment: CR H784-786)
Source: ResolvingDifferences
7 February 2008
Vote
Resolving differences -- House actions: On motion that the House agree to the Senate amendment Agreed to by the Yeas and Nays: 380 - 34 (Roll no. 42).(text as House agreed to Senate amendment: CR H784-786)
Source: NotUsed
7 February 2008
ResolvingDifferences
The previous question was ordered pursuant to a previous special order. (consideration: CR H792)
Source: ResolvingDifferences
7 February 2008
Floor
Considered by Senate. (consideration: CR S762-773)
Source: Floor
7 February 2008
Passed
ORDER OF BUSINESS - Mr. Rangel asked unanimous consent that it may be in order at any time to take from the Speaker's table the bill H.R. 5140, with the Senate amendment thereto, and without intervention of any point of order, entertain a motion by the Chairman of the Ways and Means Committee to agree to the Senate amendment; that the motion shall be debatable for not to exceed forty minutes, equally divided and controlled; that the Senate amendment and the motion be considered as read; and that the previous question on the motion be considered as ordered to its adoption without intervening motion. Agreed to without objection.
Source: Floor
7 February 2008
ResolvingDifferences
Mr. Rangel moved that the House agree to the Senate amendment. (consideration: CR H784-793)
Source: ResolvingDifferences
7 February 2008
Vote
Passed/agreed to in Senate: Passed Senate with an amendment by Yea-Nay Vote. 81 - 16. Record Vote Number: 10.
Source: Floor
8 February 2008
Floor
Presented to President.
Source: Floor
8 February 2008
President
Presented to President.
Source: President
13 February 2008
Became law
Became Public Law No: 110-185.
Source: President
13 February 2008
Became law
Signed by President.
Source: BecameLaw
13 February 2008
President
Signed by President.
Source: President
Votes
7 February 2008 · Bill Passed · On Passage of the Bill H.R. 5140 · Bill Passed · Official source
Yes 81 · No 16 · Abstain — · Absent/not voting 3
- Sen. Allard, Wayne [R-CO]Nay
- Sen. Klobuchar, Amy [D-MN]Yea
- Sen. Specter, Arlen [R-PA]Yea
- Sen. Obama, Barack [D-IL]Not Voting
Showing the first 4 recorded positions. Vote totals above are complete.
4 February 2008 · Cloture Motion Agreed to · On the Cloture Motion H.R. 5140 · Cloture Motion Agreed to · Official source
Yes 80 · No 4 · Abstain — · Absent/not voting 16
- Sen. Allard, Wayne [R-CO]Yea
- Sen. Klobuchar, Amy [D-MN]Yea
- Sen. Specter, Arlen [R-PA]Yea
- Sen. Obama, Barack [D-IL]Not Voting
Showing the first 4 recorded positions. Vote totals above are complete.
Versions
- Enrolled Bill · — · Download file
- Public Law · 13 February 2008 · Download file
- Engrossed Amendment Senate · 8 February 2008 · Download file
- Placed on Calendar Senate · 30 January 2008 · Download file
- Engrossed in House · 29 January 2008 · Download file
- Introduced in House · 28 January 2008 · Download file
Documents
16 official files
Enrolled Bill (text)
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Enrolled Bill (text)
Enrolled Bill · EN
Enrolled Bill (PDF)
Enrolled Bill · EN
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Public Law (text)
Public Law · EN · 13 February 2008
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Public Law (PDF)
Public Law · EN · 13 February 2008
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Public Law
summary · EN · 13 February 2008
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Engrossed Amendment Senate (text)
Engrossed Amendment Senate · EN · 8 February 2008
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Engrossed Amendment Senate (PDF)
Engrossed Amendment Senate · EN · 8 February 2008
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Passed Senate amended
summary · EN · 7 February 2008
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Placed on Calendar Senate (text)
Placed on Calendar Senate · EN · 30 January 2008
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Placed on Calendar Senate (PDF)
Placed on Calendar Senate · EN · 30 January 2008
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Engrossed in House (text)
Engrossed in House · EN · 29 January 2008
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Engrossed in House (PDF)
Engrossed in House · EN · 29 January 2008
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Passed House without amendment
summary · EN · 29 January 2008
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Introduced in House (text)
Introduced in House · EN · 28 January 2008
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Introduced in House (PDF)
Introduced in House · EN · 28 January 2008
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Introduced in House
summary · EN · 28 January 2008
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Sponsors
- Rep. Pelosi, Nancy [D-CA-11] · D · Sponsor
- Rep. Boehner, John A. [R-OH-8] · R · Sponsor
- Rep. Hoyer, Steny H. [D-MD-5] · D · Sponsor
- Sen. Blunt, Roy [R-MO] · R · Sponsor
- Rep. Clyburn, James E. [D-SC-6] · D · Sponsor
- Rep. Rangel, Charles B. [D-NY-15] · D · Sponsor
- Rep. McCrery, Jim [R-LA-4] · R · Sponsor
- Rep. Obey, David R. [D-WI-7] · D · Sponsor
- Rep. Frank, Barney [D-MA-4] · D · Sponsor
- Rep. Bachus, Spencer [R-AL-6] · R · Sponsor
- Rep. Emanuel, Rahm [D-IL-5] · D · Sponsor
- Rep. Larson, John B. [D-CT-1] · D · Sponsor
- Rep. Granger, Kay [R-TX-12] · R · Sponsor
- Rep. DeLauro, Rosa L. [D-CT-3] · D · Sponsor
- Rep. Miller, George [D-CA-11] · D · Sponsor
- Rep. Becerra, Xavier [D-CA-34] · D · Sponsor
- · hsba00 · Standing
- · hswm00 · Standing
Related records
- related to → Giving Resources and Opportunities to the Workforce Act of 2008
- related to ← A bill to amend the Internal Revenue Code of 1986 to provide a special depreciation allowance for certain property placed in service during 2008 and 2009.
- amends ← SAMDT 3980
- amends ← SAMDT 3990
- amends ← SAMDT 3974
- amends ← SAMDT 3976
- amends ← SAMDT 3998
- amends ← SAMDT 3978
- amends ← SAMDT 4008
Showing 9 of 37 related records.
Related across the Repo ecosystem
Direct relationships are identifier-backed. Topic context means shared TopicMembership — not a citation and not causation.
Direct relationships
- Legal framework · Economic Stimulus Act of 2008 · H.R. 5140 (110th) · US
- Identifier matchPROJECTS_FROM
Same us record 110-hr-5140 projected from PoliticalRepo US row.
Sources
PoliticalRepo is an index and interpretation layer, not the authoritative legal source.
- Official source: https://www.congress.gov/bill/110th-congress/house-bill/5140
- Open data entity: https://api.congress.gov/v3/bill/110/hr/5140
- us · 110-hr-5140 · source updated 7 April 2025