Friday, January 16, 2009

Some Additional Light On The Proposed Stimulus Bill

From Reuters, details of the House's version of the $825 bln economic stimulus package have been trickling out throughout the day:
  • HIGHWAYS, RAIL, TRANSPORTATION: $30 bln for highway construction; $31 bln to modernize federal and other public infrastructure with investments that lead to long-term energy cost savings; $19 bln for clean water, flood control, and environmental restoration investments; $10 bln for transit and rail to reduce traffic congestion and gas consumption
  • STATES, EDUCATION: $79 bln in state fiscal relief to prevent cuts to key services; $39 bln to local school districts, public colleges and universities distributed through existing state and federal formulas; $15.6 bln to increase Pell grants for college students
  • ENERGY: $11 bln for research and development, pilot projects, and federal matching funds to modernize electricity grid; $8 bln for loans for renewable energy power generation and transmission projects; $6.7 bln for renovations and repairs to federal buildings
  • HEALTH CARE: $87 bln to states, increasing through the end of FY 2010 the share of Medicaid costs the Federal government reimburses all states by 4.8%, with extra relief tied to rates of unemployment; $30.3 bln to extend health insurance coverage to unemployed beyond 18 months provided under current law; $3 bln to fight preventable chronic diseases, the leading cause of deaths in the United States, and infectious diseases
  • BROADBAND, TECHNOLOGY: $6 bln to expand broadband Internet access for businesses in rural underserved areas; $20 bln for health information technology to prevent medical mistakes, provide better care to patients and introduce cost-saving efficiencies
  • HOUSING: $4.2 bln to help communities buy, rehabilitate foreclosed, vacant properties to create affordable housing; $1.5 bln to help local communities build and rehabilitate low-income housing using green technologies; $5 bln for public housing repair and modernization, including critical safety repairs; $6.2 bln to help low-income families reduce their energy costs by weatherizing their homes
  • ENVIRONMENT: $800 mln to clean up hazardous and toxic waste sites that threaten health and the environment.
  • WATER RESOURCES: $4.5 bln for environmental restoration, flood protection, hydropower, and navigation infrastructure; $6 bln for loans to help communities upgrade wastewater treatment systems; $2 bln for loans for drinking water infrastructure.


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