Thursday, January 15, 2009

Allocations of $825 Billion Stimulus Package Disclosed

A Bill introduced today by House Democrats, highlights the $825 billion stimulus plan that is supposed to lead America out of its current deplorable state. This will undoubtedly cause ripples in both the Congress and Senate as the fight for the spoils begins.

In a nutshell the proposed package consists of $275 billion in tax cuts, which may prove problematic with Republicans as it is less than the 40% of the bill that was supposed to win GOP support ($330 billion).

The $550 billion balance would be spent as follows:
  • Energy: $32 billion to fund a "smart electricity grid", $20 billion for renewable energy tax cuts and tax credit for R&D; $6 billion to weatherize modest income homes.
  • Science and Tech: $10 billion for science facilities, $6 billion for high speed Internet to rural areas, $1 billion for 2010 census.
  • Infrastructure: $32 billion for transportation projects, $31 billion to build and repair federal buildings and other public infrastructure, $19 billion in water projects $10 billion in rail and mass transit projects.
  • Aid to poor and unemployed: $43 billion for extended unemployment benefits, $20 billion for food stamp benefits, $4 billion for supplemental Social Security Income payment, $2.5 billion in temporary welfare payments, $1 billion in home heating subsidies, $1 billion for community action agencies.
  • Education: $41 billion grants to local school districts, $79 billion in state fiscal relief to prevent cuts in state aid $21 billion for school modernization; $16 billion to boost Pell Grant; $2 billion for Head Start.
  • Health care: $39 billion to subsidize health care insurance for unemployed, $90 billion to help states with MedicAid, $20 billion to modernize health info systems, $4 billion for preventative care, $1.5 billion for community health centers.
  • Housing: $13 billion to repair and make more energy efficient public housing projects and help the homeless.
  • Law enforcement: $4 billion in grants to state and local law enforcement.

We didn't care to add this up; we are sure it does not add up to the $550 total. After all it comes from the same people who wanted to repeal an excise tax for kids' arrows in the original TARP.

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Anonymous said...

$1 billion for the Census? Y'all must be crazy...

the One said...

Anonymous, how much you think it should cost to count every person in the US?