What's in the $780 billion stimulus?
Editor's Note: This information came from a source in a Republican Senate office that took part in the negotiations.
Joe Johns
AC360° Correspondent
MORE THAN $43 BILLION IN TRANSPORTATION INFRASTRUCTURE INVESTMENTS
$27 BILLION FOR HIGHWAY, ROAD AND BRIDGE INVESTMENTS
$8.4 BILLION FOR PUBLIC TRANSIT INVESTMENT
$2 BILLION FOR HIGH SPEED RAIL
$1.3 BILLION FOR FAA AIRPORT IMPROVEMENT FACILITIES AND EQUIPMENT
$850 MILLION FOR AMTRAK
$250 MILLION FOR GRANTS TO STATES FOR INVESTMENT IN HIGH SPEED AND INNER CITY PASSENGER RAIL
$100 MILLION TO MARITIME ADMINISTRATION FOR ASSISTANCE TO SMALL SHIPYARDS
MORE THAN $76.8 BILLION IN EDUCATION INVESTMENTS
$39 BILLION FOR STATE FISCAL RELIEF TARGETED DIRECTLY FOR EDUCATION
$13.9 BILLION FOR PELL GRANTS
$13.5 BILLION FOR SPECIAL EDUCATION FUNDING - This would bring the federal government closer to the promised 40 percent of the national average per pupil expenditure for every child in special education. This will help relieve the increasing burden at the local level to cover the rising costs of special education, and allow districts the flexibility to retain support staff and teachers in the classrooms where they are so desperately needed.
$10.4 BILLION FOR TITLE I– The additional investment in Title I is a critical investment towards children in poverty. As more and more children are classified as poor during this economic downturn, this substantial additional investment will help local school districts ensure that their academic needs are being met.
ENVIRONMENT
$6.4 BILLION FOR WATER AND SEWER INFRASTRUCTURE
MORE THAN $3 BILLION FOR JOB TRAINING
$3.25 BILLION FOR WORKFORCE INVESTMENT PROGRAMS
$160 MILLION FOR JOB CORPS
HEALTHCARE
$87 BILLION IN TEMPORARY AND TARGETED MEDICAID RELIEF TO STATES
Leading economists have found that targeted aid of this sort will generate increased economic activity of $1.36 for every $1 spent. Moreover, with unemployment up, the number of people who are eligible for Medicaid also rises. Increasing the federal investment in Medicaid will shore up the safety net for those vulnerable families.
HOUSING
$5 BILLION FOR SUPPLEMENTAL GRANTS TO PUBLIC HOUSING AUTHORITIES FOR CAPITAL NEEDS
ENERGY
$4.7 BILLION FOR STATE AND LOCAL ENERGY EFFICIENCY BLOCK GRANTS
$4.4 BILLION FOR SMART GRID to improve the reliability of electricity transmission grid
$2.9 BILLION FOR WEATHERIZATION PROGRAMS
$2 BILLION FOR ADVANCED BATTERY MANUFACTURING
$7 BILLION FOR LOAN GUARANTEES FOR STANDARD RENEWABLES
HOMELAND SECURITY
$800 MILLION FOR CONSTRUCTION OF PORTS OF ENTRY
$500 MILLION FOR FIREFIGHTERS ASSISTANCE GRANTS
SCIENCE
$1.2 BILLION FOR NATIONAL SCIENCE FOUNDATION
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Post by: Priority Filed under: Barack Obama • Economy • Joe Johns • Raw Politics |
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Chill out poeple. This is complicated.
Think before jumping on a political or emotional bandwagon.....
Alot of this stuff is stimulative if spent in the right way..
That's the question...will it be spent in the right way?
I am assuming the difference is tax cuts, which by the way don't help those without a job!
The President is desperate to get this liberal spending bill passed before the country realizes what is in it. This is really just a payback to the special interests that helped him get elected. He has resorted to hysterical fear rhetoric about the economy and that is making the economic situation worse. It is a shame that he is putting the special interests ahead of the best interests of the country...but he is not the first politian to do that.
Could CNN post the full list of items on the bill? I just finished reading it's 647 pages; every American should do the same.
There are items of pointless nature on the list that CNN is not telling us......WHY?
It 's to bad that that governors don't have a vote on the stimulus bill.According to Moody's,the quickest stimulus spending will come from states.(unemployment benefits,food stamps an infrastructure)Republican governors are President Obama's best ally rite now.They have to deal with our economic situation daily.Republican congressman and senators should take notice of this. *Dave
As a teacher in California who faces losing her job because California's gov't can't get a budget passed for the life of them, I'm holding my breath awaiting to see if this stimulus package gets passed. My small school district amongst every other in California is facing letting teachers go (increased class sizes), cutting music teachers, librarians, etc. It has really put a damper on our morale. All I want to do is go into work each day and give my students the best education they deserve, without having to worry if I will have my job next year.
As I read through this list, like many other readers, I too think..."What do they need all that money for?" However, the reality is is that if it saves jobs from being lost/creates future jobs then it's worth it. The Special Education Funding and Title I Funding will definitely save lots of teaching jobs, mine included. I'm tired of Education in this country taking a back seat, it's time to put our most valuable resource first.
I have a question..WHY DO THE BANK CEOS STILL HAVE THEIR JOBS?
WHY NOT FIRE THEM AND USE THEIR SALARIES TO SAVE AMERICA'S JOBS?
Someone needs to Remind Mr. Obama that bragging about winning an election against a senior citizen is not bery smart. There is another one in just a little under 18months. Ask Bill Clinton how dangerous those mid term elections can be. If the peaple get fed up with the arregance and attitude of the democrats, thay could find themselves with another Republican congress. The popularity for this Stimulas Package is weak, Mr. Obama #'s are also on the down swing. Mr. Obama, a word of advice. LISTEN TO THE PEAPLE NOT NANCY POLOSA, HARRY REED. THEY ONLY HAVE ONE VOTE FOR PRESIDENT. A registered Independent
As a non working/retired senior citizen, I am interested in knowing if there is anything in the latest Senate version of Stimulus Package that pertains to my situation?
Looks like Ron Paul was right all along.
Is there anything in the current stimulus in the Senate to benefit non working/retired senior citizens?
Can the money previously approved for the financial institutions be used to get help for people unemployed, losing homes, etc? What is in the stimulus bill for people on social security like me? Will I get a check or will it show up in the monthly check or what? Where can we see the entire plan on the internet to see what affects each of us?
What! Cut enery efficient federal buidlings! I work in a federal building that is probably the worst energy efficient building I have ever seen. AIr conditioning running during the winter and heaters running during the summer.
I have been trying to get Countrywide six months to lower the interest rate they raised to 10%...going to lose my home. Wonderful...they are offering 15k for new homeowners to buy my home...great country we live in.
Someday....all this sh..t is going to end...someone / group is going to have to do something..
Getting tired of all of this..
Stimuls = Consumer & Business Spending ONLY
Car purchases = 3000.00 tax Credit for new cars > 20mpg
New home buyers = 10,000.00 tax deduction the 1st year.
Energy Saving Home Improvements = 33% tax deduction (wind solar, geothermal)
Energy Saving Appliance purchases = 20% tax deduction (Energy Star Qualified)
These are things that provide an INSTANT POP to the economy
Tax Credits dont work becauce people will either save it or pay off old bills
The current package is at best, a bandaid! While I understand we need to help those loosing their jobs, but If we don't fix what caused the problems in the first place, we are only prolonging the ultimate collapse of the economic future of Americans. While the "Buy American" provision of the Bill was wattered down, I'd like to see a provision that proibits outsourcing any of this money overseas. What good does it do out-of-work Americans to create or support jobs overseas (like manufacturing Solar collectors).
I'm sorry Corporate America, but it's time to put Americans first and profits second!
Are all of the current 3.6 million unemployed construction workers, bridge builders, and pit diggers or are they IT workers, teachers, sales people, clerical workers and analysts? How will spending on rebuilding infrastructure stimulate this economy and provide jobs for them?
This seems to be about the government spending my money; whatever little there is left...Margaret Thatcher was supposed to have said "The problem with socialism is that eventually the spenders run out of someone else's money". In 5 years, when they raise taxes for the middle class to repay this debt, where will that money come from?
BTW, the middle class isn't spending because folks have wracked up more than $3 Trillion in debt and the banks charge almost 29% interest. Do you wonder why people are using whatever $$ they get to pay off their debt?
OK, where is the rest of the money going ? This list only represents about 1/3rd of the money. Most of the items on the list DO NOT help the individual or family directly. It looks like the major stimulus promises were removed. Also – is there direct oversight on how the moneys are spent ? Like money going to the states for one Stimulus purpose and then being used for another.
As much as I hate to admit it, there's some truth to what the republicans are saying – this is not an economic stimulus bill! This bill should really be split into two bills: an economic stimulus bill and a safety-net for the unemployed and poor bill. I may want to see increased health care and education spending, but not sneaked in as 'economic stimulus.' It feels like a sham. Let's call things what they are and prioritize appropriately.