Stimulus Plan Includes Tax Refunds for Businesses

President-elect Barack Obama's proposed economic stimulus plan would include billions of dollars of refunds for taxes paid years ago, the Associated Press reported.

The stimulus, now projected to cost at least $800 billion, would also give tax cuts of up to $300 billion, more than $100 billion of which would go to businesses, AP reported.

Obama's team did not give estimates to the amount of refunds businesses could receive, but a similar idea considered last year in Congress would have provided businesses about $25.5 billion, AP said.

The president-elect's plans have won support from some Republicans, but most of them are still wary of the plan's costs, AP said.

The tax refunds are "at the top of the list from business' viewpoint," Bruce Josten, executive vice president for government affairs at the U.S. Chamber of Commerce, told AP.