Major provisions of stimulus package

MarketWatch ^ | January 28, 2009

[KeyLargo]

Major provisions of stimulus package

WASHINGTON (MarketWatch) -- The U.S. House of Representatives Wednesday approved an $819 billion economic stimulus package. The bill includes $275 billion in tax cuts, $523 billion in direct spending, and other provisions.

The bill, would cut taxes for individuals and businesses, provide billions of dollars for infrastructure projects, help states balance their budgets, and provide relief to millions of people who've lost their jobs or homes. Tax cuts

* Payroll-tax holiday: $99 billion * Expanded earned-income tax credit: $25 billion * Tuition tax credit: $10 billion * Business expensing tax breaks: $90 billion * Renewable-energy tax credit: $20 billion

Relief

* Expanded unemployment insurance: $42 billion * Health insurance for unemployed: $40 billion * Expanded food stamps: $20 billion * Housing assistance: $11 billion * Supplemental Security Income payments: $4 billion * Welfare: $3 billion

Infrastructure

* Highways: $30 billion * School renovation: $20 billion * Health information technology: $17 billion * Transportation projects: $16 billion * Water projects: $8.4 billion * Military and V.A. construction: $7 billion * Accelerated deployment of broadband: $5.6 billion

Help for state and local governments

* Medicaid cost sharing: $87 billion * State grants: $79 billion * State and local bond tax credit: $42 billion * Community development: $5 billion * Rural development: $4 billion

Energy efficiency

* Federal energy-efficiency projects: $22 billion * Energy-efficiency grants: $18.5 billion * Smart electric grid: $11 billion * Renewable-energy loan guarantees: $8 billion

Human capital

* Education programs: $29 billion * Pell grants: $18 billion * Job training: $4.6 billion * Scientific research: $3 billion End of Story

[KeyLargo]

What is the background of Market Watch writers?

Are they all pro-Obama?

Read the posts on the website.

Most comments seem to be in favor of the Democrats pork bill.

Read post comments here:

http://www.marketwatch.com/News/Story/Story.aspx?guid=cd0ff22bf34a485092651c07f5dc5a04&siteid=nwhpf&sguid=pEra3NiK_Ea0EyuFa0GCYA

[Oldeconomybuyer]

Lotta payola to democrat special interest groups designed to “stimulate” more campaign contributions and votes for democrats.

[goodwithagun]

$275 billion for tax cuts. How can tax cuts cost money?

[antiRepublicrat]

* Payroll-tax holiday: $99 billion * Expanded earned-income tax credit: $25 billion * Tuition tax credit: $10 billion * Business expensing tax breaks: $90 billion * Renewable-energy tax credit: $20 billion

That's good. I like tax cuts.

Community development: $5 billion

This is where Obama pays off ACORN for getting him elected.

[antiRepublicrat]

Governments always phrase it as “costing money” so people will think tax cuts are a bad thing.

[Maryland Man]

That is because the government assumes they own the money and are graciously giving it back rather than the real story.....

They are not confiscating as much to disburse as they see fit to placate the population.

[Venturer]

This bill isnt as written here, It’s a welfare bill.

[what's up]

This is where Obama pays off ACORN for getting him elected

Yes, plus gives them more money to help the Dems steal votes in '10.

[LibertyRocks]

My husband informed me that a few million was going to Florida for a new Water Park - I guess this is part of the “Urban Development” funds (or is it “Rural Development”). As if ANYWHERE in Florida they NEED a “Water Park”? Hell, the ocean is a relatively short drive for ANY Floridian!!!

One cannot see where the actual money is going unless they itemize it - as in stating specifically to whom and what this money is allocated. When they couch it in terms like “Community Development” as you pointed out where in actuality this money is going straight to a specific organization it doesn’t sound so bad to your average dingbat voter (or liberals). It’s only when you look at the specifics do people really start to get the idea...

Also, regarding ACORN, why the heck isn’t anyone talking about how they are giving millions to an organization that is under Federal and State investigation for voting fraud??? It boggles the mind that the Dems are so incredibly brazen with their contempt for the Citizens whose money this is...

[jveritas]

They keep calling this scam a tax cut when it is welfare checks and wasteful pork spending. A real tax cut is when the income tax bracket goes down i.e. Bush tax cuts or Reagan tax cuts. Most of the 500 dollars welfare checks will go to people who do not pay taxes or do not work.