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• $825 billion total (as of 1/15/09)
• $550 billion in new spending, described as thoughtful and carefully targeted priority investments with unprecedented accountability measures built in.
• $275 billion in tax relief ($1,000 tax cut for families, $500 tax cut for individuals through SS payroll deductions)
• $ 90 billion for infrastructure
• $ 87 billion Medicaid aid to states
• $ 79 billion school districts/public colleges to prevent cutbacks
• $ 54 billion to encourage energy production from renewable sources
• $ 41 billion for additional school funding ($14 billion for school modernizations and repairs, $13 billion for Title I, $13 billion for IDEA special education funding, $1 billion for education technology)
• $ 24 billion for "health information technology to prevent medical mistakes, provide better care to patients and introduce cost-saving efficiencies" and "to provide for preventative care and to evaluate the most effective healthcare treatments."
• $ 16 billion for science/technology ($10 billion for science facilities, research, and instrumentation; $6 billion to expand broadband to rural areas)
• $ 15 billion to increase Pell grants by $500
• $ 6 billion for the ambiguous "higher education modernization."
NOTE: The following are highlights of the package; for the full 13-page summary from the Appropriations Committee, click here:
(as of 1/15/09)
Energy
$32 billion: Funding for "smart electricity grid" to reduce waste
$16 billion: Renewable energy tax cuts and a tax credit for research and development on energy-related work, and a multiyear extension of renewable energy production tax credit
$6 billion: Funding to weatherize modest-income homes
Science and Technology
$10 billion: Science facilities
$6 billion: High-speed Internet access for rural and underserved areas
Infrastructure
$30 billion: Transportation projects
$31 billion: Construction and repair of federal buildings and other public infrastructure
$19 billion: Water projects
$10 billion: Rail and mass transit projects
Education
$41 billion: Grants to local school districts
$79 billion: State fiscal relief to prevent cuts in state aid
$21 billion: School modernization ($15.6 billion to increase the Pell grant by $500; $6 billion for higher education modernization)
Health Care
$39 billion: Subsidies to health insurance for unemployed; providing coverage through Medicaid
$87 billion: Help to states with Medicaid
$20 billion: Modernization of health-information technology systems
$4.1 billion: Preventative care
Jobless Benefits
$43 billion for increased unemployment benefits and job training.
$39 billion to support those who lose their jobs by helping them to pay the cost of keeping their employer provided healthcare under COBRA and providing short-term options to be covered by Medicaid.
$20 billion to increase the food stamp benefit by over 13% in order to help defray rising food costs.
Taxes
Individuals:
*$500 per worker, $1,000 per couple tax cut for two years, costing about $140 billion.
*Greater access to the $1,000-per-child tax credit for the working poor.
*Expansion of the earned-income tax credit to include families with three children
*A $2,500 college tuition tax credit.
*Repeal of a requirement that a $7,500 first-time homebuyer tax credit be paid back over time.
How is all this crap going to "fix" our economy? A lot of the spending doesn't even happen until 2 or 3 years from now...so how does that help America today?
It doesn't. It's a lot of special interest money being tacked on to the bill making it ridiculously expensive.
• $825 billion total (as of 1/15/09) • $550 billion in new spending, described as thoughtful and carefully targeted priority investments with unprecedented accountability measures built in. • $275 billion in tax relief ($1,000 tax cut for families, $500 tax cut for individuals through ss payroll deductions) • $ 90 billion for infrastructure • $ 87 billion medicaid aid to states • $ 79 billion school districts/public colleges to prevent cutbacks • $ 54 billion to encourage energy production from renewable sources • $ 41 billion for additional school funding ($14 billion for school modernizations and repairs, $13 billion for title i, $13 billion for idea special education funding, $1 billion for education technology) • $ 24 billion for "health information technology to prevent medical mistakes, provide better care to patients and introduce cost-saving efficiencies" and "to provide for preventative care and to evaluate the most effective healthcare treatments." • $ 16 billion for science/technology ($10 billion for science facilities, research, and instrumentation; $6 billion to expand broadband to rural areas) • $ 15 billion to increase pell grants by $500 • $ 6 billion for the ambiguous "higher education modernization."
note: the following are highlights of the package; for the full 13-page summary from the appropriations committee, click here:
(as of 1/15/09)
energy $32 billion: Funding for "smart electricity grid" to reduce waste $16 billion: Renewable energy tax cuts and a tax credit for research and development on energy-related work, and a multiyear extension of renewable energy production tax credit $6 billion: Funding to weatherize modest-income homes
science and technology $10 billion: Science facilities $6 billion: High-speed internet access for rural and underserved areas
infrastructure $30 billion: Transportation projects $31 billion: Construction and repair of federal buildings and other public infrastructure $19 billion: Water projects $10 billion: Rail and mass transit projects
education $41 billion: Grants to local school districts $79 billion: State fiscal relief to prevent cuts in state aid $21 billion: School modernization ($15.6 billion to increase the pell grant by $500; $6 billion for higher education modernization)
health care $39 billion: Subsidies to health insurance for unemployed; providing coverage through medicaid $87 billion: Help to states with medicaid $20 billion: Modernization of health-information technology systems $4.1 billion: Preventative care
jobless benefits $43 billion for increased unemployment benefits and job training. $39 billion to support those who lose their jobs by helping them to pay the cost of keeping their employer provided healthcare under cobra and providing short-term options to be covered by medicaid. $20 billion to increase the food stamp benefit by over 13% in order to help defray rising food costs.
taxes
individuals:
*$500 per worker, $1,000 per couple tax cut for two years, costing about $140 billion. *greater access to the $1,000-per-child tax credit for the working poor. *expansion of the earned-income tax credit to include families with three children *a $2,500 college tuition tax credit. *repeal of a requirement that a $7,500 first-time homebuyer tax credit be paid back over time.
how is all this crap going to "fix" our economy? A lot of the spending doesn't even happen until 2 or 3 years from now...so how does that help america today?
It doesn't. It's a lot of special interest money being tacked on to the bill making it ridiculously expensive.
i refuse to listen to your right wing lies about nancy pelosi and this much needed stimulus bill.
Obama and the democrats won the election and shall rule this nation for another 100 years.
We need to get this bill past, if not we will not be able to get our $40.00 coupons for our cable converter boxes, oh the insanity, how will we watch Desperate Housewives?
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