Details, Details

Just a tidbit of Information to help you understand what the whole mess looks like. It looks like a lot of Pork Barrel spending to me and not the spark to get things rolling tomorrow, with the exception of the last thing for about 140+ Billion. This is what the House of Representatives passed 100% Democrats voted for and 0% of the Republicans did. Will this be the ammunition to bury the Democrats or the Republicans in the next election? I'll watch.

Highlights of Economic Recovery Plan Spending

$32 billion Funding for "smart electricity grid" to reduce waste
$20 billion +Renewable energy tax cuts and a tax credit for research and development on energy-related work, and a multi year extension of renewable energy production tax credit
$6 billion Funding to weatherize modest-income homes

Science and Technology
$10 billion Science facilities
$6 billion High-speed Internet access for rural and under served areas

$32 billion Transportation projects
$31 billion Construction and repair of federal buildings and other public infrastructure
$19 billion Water projects
$10 billion Rail and mass transit projects

$41 billion Grants to local school districts
$79 billion State fiscal relief to prevent cuts in state aid
$21 billion School modernization

Health Care
$39 billion Subsidies to health insurance for unemployed; providing coverage through Medicaid
$90 billion Help to states with Medicaid
$20 billion Modernization of health-information technology systems
$4 billion Preventative care

$500 per worker, $1,000 per couple tax cut for two years, costing about $140 billion
Greater access to the $1,000-per-child tax credit for the working poor
Expansion of the earned-income tax credit to include families with three children
A $2,500 college tuition tax credit
Repeal of a requirement that a $7,500 first-time home buyer tax credit be paid back over time
An infusion of cash into money-losing companies by allowing them to claim tax credits on past profits dating back five years instead of two
Bonus depreciation for businesses investing in new plants and equipment
Doubling of the amount small businesses can write off for capital investments and new equipment purchases
Allowing businesses to claim a tax credit for hiring disconnected youth and veterans
Source: Associated Press

1 comment:

  1. I was over at my mom's house yesterday, and she told me she had heard that 10 Democrats also voted against it.