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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I see they took out the tax credits for new home buyers. is there a chance that could get back into the bill?
Spending for the new government vehicles is not necessary
This is all good solid spending; we needed more of this...much more and LESS tax cuts.
Has Unemployment compensation been extended or suspended.
After watching the senate stimulus amendment process I find much of them are just bad or have nothing to do for the economic stimulus. Senator Grassley’s’ amendment on Medicaid and Senator Feingold s’ amendment are the only amendments holding any merit that passed committee and need to be added to the stimulus package. Senator Bunning wants to save Wall Street investors. I’m a wall street investor and I knew the risks when I started to invest and when my broker wanted me to sell I said no thanks I’ll just set and in time I’ll recover . I’m not interested in saving those who can’t and do, because the markets yield back in time. Mr. Bunning’s amendment does not reflect good research. Senator Thune doesn’t seem to understand good research ether. Mr. Thune wants to hand out outrageous tax cuts. Stimulation is done by causing movement of the GDP and purchasing tax relief has a direct effect on the GDP, not giving big handouts to a targeted group. Senator Wydon wants to set at a Wall Street round table with out researching the facts involved.
Housing needs to be taken up with T.A.R.P. Big banks don’t need three hundred and ten billion dollars but, my research shows, housing restructuring through small community banks have a record of handling finances best and at a lower cost then the large Wall Street banking system.
What happened to the funding for the arts which would have provided jobs for many in the nonprofit arts organizations.
How is all this spending going to create 3 – 4 millions jobs???
It looks like a bunch of pet projects for a bunch of Democrats.
What is being done in any of these potential jobs to make sure that these taxpayer funded jobs will go to American citizens?? Illegals have taken over a huge block of the construction industry. E-Verify needs to be mandated for any taxpayer funded jobs.
This whole stimulus debate is a joke. Don’t the republicans realize how badly they are hurting their own states and the people in their states by not working with President Obama and the Democrats. It is so ridiculous…the facts are out there and I surely hope that the American people see through their BS. They have been dragging this out long enough, and frankly, it needs to stop! Everyday that goes by, more and more AMERICANS are losing their jobs, houses and investments. Republicans will not come out and say it, but by wanting more tax cuts, I truly believe that they are trying to backdoor the Obama administration into failure. Tax cuts only gain two cents for every dollar given back to the tax payer, while spending to fix our crumbling infrastructure would gain 59 cents on the dollar. What they are doing is not right and needs to be stopped! It’s time to put personal politics aside and do what’s right for the people and their political stature.
All this is good for is too make a bunch of rich people richer again. What about the middle class tax payer. All we get out of it is the job of paying for it. Come on people enough is enough.
Wow.
How come all the compromise is coming from the Democrats. John McCain compromise was to take all the spending out of the bill and do nothing but tax cuts. He did not win the election Barrack did. The majority of Republican are being obstructionist.
How will this stimulate the economy NOW? Most of the money is long term project spending for pet pork projects!
Sure, lets get so far in debt that we trash the US Dollar and drive interest rates to unheard of levels.
Spend, spend, spend. Notice most of this stimulus bill is loaded with spending for long term projects. Most of which I might add will need adddition funding later on down the road. In other words, an even larger budget to meet in 2012 and on for future generations to endure. Where is this going to end?
What about the people that are losing there homes.God Bless America
This is a very well thought out stimulus bill. Republicans in the senate should stop fighting president Obama and pass this bill so that America can get going again.
It seems like the goverment is regulating and watching different industries. How is watching the insurence industry. My insurence is going up 250.00 per year because I live in Nevada.
I keep hearing about PORK.....these appear to be programs that will stimulate local growth and job production.
This package is a joke its not going to help the low income and middleclass like it should the guy is who makes the US tick..People need to wake up.....The rich get richer and poor get poorer! People will spend money if they have jobs, stop sending our jobs over seas and bringing forgieners here to take ours!
I don't agree with everything in this bill(some items are clearly not going to stimulate the economy), but, I think a lot here can help the economy and is generally good for the country.
I would like to hear (from the republicans), how the 2nd half of "their" $700 billion stimulis package was spent, and what did it accomplish?
Boy I'm sure glad the Republicans were able to get that 25 billion
for new school construction " Fat " cut from the plan....that wouldn't create any new jobs. hmmmm
My Oh My... maybe they can work this thing out with out the fat...
GREAT STIMULUS PACKAGE. WHATS IN IT FOR TROUBLED HOME OWNERS???
Did the tax deductions for new cars for sales tax and interest related to financing stay in?
Did the one-time 2009 stimulus for Social Security receipients survive?
is there anything in the stimulus for housing? Is the tax credit in this plan?
With the Economic Stimulus Program that is about to be passed by the Senate, are there any funds earmarked for existing Businesses contemplating on expanding their operatons via franchising?
How about credit availability for those recently unemployed to start their own businesses by being a franchisee in industry that they are already familiar with. It is proven that the succes rate of franchisee start-ups is so much higher than those going at it alone. Chances of providing increased employment via this route is more of a long term solution in resolving our massive unemployment crisis and likewise stimulate the economy at a much faster pace.
Having said this, aside from the 3.6M currently unemployed, additional military personnel (approximatley 300K) will be coming home from Iraq and most likely unemployed. If there is nothing set aside to address this, then it may be the right time to lobby for a piece of that package, to ensure that our brave soldiers have something to come back to and build their future with after the sacrifices they have made for all of us.
about peoplee on disability and retirement only income. With food ,gas insurence,etc going up we have nothing left to spend. The tax cut doesn't do anything since we don't do tax returns. I hope we aren't left behind.
What about extending or increasing unemployment benefits... or providing health care assistance for laid off workers? The cost of Cobra is outrageous.
This is an excellent plan - they seem to have taken the pork out. Obama is to be commended for putting this together. In the last 20 years I have not seen any one take one sensible measure to improve the economy.
Go Obama (thanks A.C. for giving the info)
You left all the PORK off this list. The Devil is in the Details>
What a joke. I am self employeed in property maintenance I have not had any calls for jobs and wonder what I will do. I can not get unemployment because I am a one man operation and have bills to pay. I Need Help!!!!!!!!!!!
They have forgot about us
I'm a 67 yo african-american democratic female. Stimulus yes, pork no. Of the 780 billion, what REALLY creates jobs now.
The tax cuts. You forgot to tell us about the tax cuts. Who gets them? How much to they get?
Whats in in for me? There is nothing in it for the average Joe! Did
I waste a vote?
What about un employment benefits. Will there be any relief for people that can only draw benefits for 6 weeks, 13 weeks, 20 weeks?? any extending of benefits. Anything at all????
How are mortage interest rates going to change due to this stimulus package?
What is the battery manufacturing for? If it's not for cars, get rid of it. Small shipyards? Sounds like a Congressional pork project.
Everything else is GREAT! Bring on the Public Transportation, I'm tired of sitting on the 405 – give me a viable alternative to get to work and I'll use it.
I'm glad that members of congress are finally Getting the bill passed. I just wish republicans would GET OUT OF THE WAY! And let President Obama do his job. They were the ones that broke it, now let the democrats fix it.
Earlier this week the Republicans had proposed a 4 or 4.5% across the board interest rate for mortgages. Where does that now stand – is this still a possibility? I too, believe this certainly would stimulate home sales and/or refinancing which could help many people to now be able to afford their mortgage payments.
To Anderson Cooper
In the House of Representatives version of ‘‘American Recovery
and Reinvestment Act of 2009’’ page 9, "SEC. 1107. APPROPRIATIONS
FOR INSPECTORS GENERAL" begins the amounts to be used by different
departments Office of Inspector General. $208,500,000 is to allocated to these offices.
If these offices are normally funded by the annual budget, WHY do they need special funding.
Sincerely,
Chester Evans
Norfolk, VA
Is there any grants for the arts.... culture?????
Isn't that important for the welfare of our lives......
Im a plumber in dfw and I can't see the stimulus helping my family. Obama needs to help the people who got him elected at a local level to.
OK, that's about $250 billion, what's the other $500 billion+ going to be used for?
Where are the hundreds of rests of billions – this is an absurd list, nearly totally useless for consumption.
T. Wade Zinn
What happened to the tax cuts? I don't see them in your list!
It doesn't add up..... where is the rest of it?
This makes me sick! Can someone PLEASE tell me how 1.2 Billion for the National Science Foundation is going to stimulate our economy???? How is any of this nonsense going to stimulate our economy. The politicians should be put in jail for stealing our money! I'm sick of this bull crap.
Yes. This will work.
Hi Anderson,
I am in the Aero-Space Industry. The prior government decided that we should retire the current shuttle programn in 2010. Even though we do not have a replacement vehicle. Therefore, thousand of employees will be facing unemployment.
My question is: How will "payroll" reduced taxes help the currently unemployed and future job lost.
Thanks,
Hew.