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.
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