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What the Stimulus Package Would Get Us

$800 billion, $647-page tome means big gov't again

By Matt Cantor,  Newser Staff

Posted Feb 1, 2009 3:23 PM CST
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(Newser) – President Obama’s $800 billion stimulus plan—which stood at 647 pages when it passed the House last week—signals a return to “unabashed” big government, the Los Angeles Times reports. Here’s what it means:

  • For the next 2 years, individuals making under $75,000 will get a $500 tax credit. Those making more than $100,000 will get no tax credit. Those earning under $80,000 will also get a $2,500 college tuition credit.

  • Some $30 billion will go to highway and bridge projects, $20 billion to school projects, and a few billion each to various projects including clean water and public transit.
  • Unemployment benefit terms will be extended for about 3.5 million; some 20 million will get a $25-a-week increase in aid checks. Roughly 8.5 million who lose jobs will get help keeping their health insurance.
  • About $100 billion will push energy efficiency, through measures like better-built houses and new power lines that could help distribute renewable energy.
  • States will get $87 billion in emergency aid.
For more details, click the link below.

Republican senators explain their opposition to President Barack Obama's financial stimulus package during a news conference at the Capitol, Jan. 29, 2009.
Republican senators explain their opposition to President Barack Obama's financial stimulus package during a news conference at the Capitol, Jan. 29, 2009.   (AP Photo/J. Scott Applewhite)
President Barack Obama talks with guests after signing an executive order dealing with the Middle Class Working Families Taskforce, Friday, Jan. 30, 2009, in the White House.
President Barack Obama talks with guests after signing an executive order dealing with the Middle Class Working Families Taskforce, Friday, Jan. 30, 2009, in the White House.   (AP Photo/Ron Edmonds)
In this Jan. 5, 2009 file photo, then-President-elect Barack Obama, flanked by Tim Geithner and Christina Romer, meets with his economic team at his transition office in Washington.
In this Jan. 5, 2009 file photo, then-President-elect Barack Obama, flanked by Tim Geithner and Christina Romer, meets with his economic team at his transition office in Washington.   (AP Photo/Gerald Herbert, File)
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COMMENTS
Showing 3 of 3 comments
Mad
Feb 2, 2009 12:36 AM CST
This is what America needs. Lets go for it!
Guest
Feb 1, 2009 10:07 PM CST
Sounds good. What's the Repugs' problem? Must be the no tax cuts to the rich.
Newser001
Feb 1, 2009 8:10 PM CST
What about foreclosures... Help removing insolvent principle? There's no reason to remain in a home if the value of your home is half of what your note is... And continues to fall. I'd like this issue to be addressed, promptly.

Economists on left and right oppose bill's current form
Chicago Tribune

Obama's first and biggest test
Time

Form under debate, but bill is necessary
San Francisco Chronicle

Money • Health • Politics • US

 
energy • health insurance • unemployment • infrastructure • tax cuts • unemployment benefits • economic stimulus package • tax credit • emergency aid • Obama administration • President Obama

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