Highlights of the Plan

<i> Associated Press</i>

Main points of the $140-billion economic stimulus package announced Tuesday by Japan:

* Tax cuts: Reductions will total $54 billion. Each Japanese will receive a 20% tax refund this year, up to a maximum of $20,400. A typical family with two children and a $65,000 annual income will receive about $980.

* Public investment: Spending will be boosted by $66.7 billion, including $33.2 billion in public works; $5.6 billion for education, research and medical facilities, and $11.1 billion for government home loans.

* Restructuring: About $4.6 billion will be used to buy land, including that affected by factory closings. The land will be held for future private development. Funds will also increase for aid to small businesses, agriculture and job restructuring.


* Financial sector: A new organization will help banks temporarily transfer bad loans off their books, thereby improving their balance sheets and encouraging new lending while the banks undergo restructuring.