The Democrats have put forward their $825 billion stimulus package to goose the economy in to a recovery mode. The
U.S. News & World Report has put forth a very long multi page story explaining where the money goes. Here are some brief highlights of the major expenditures planned:
The package contains targeted efforts in:
· Clean, Efficient, American Energy
· $32 billion to transform the nation's energy transmission, distribution, and production systems by allowing for a smarter and better grid and focusing investment in renewable technology.
· $16 billion to repair public housing and make key energy efficiency retrofits.
· $6 billion to weatherize modest-income homes.
· Transforming our Economy with Science and Technology
· $10 billion for science facilities, research, and instrumentation.
· $6 billion to expand broadband internet access so businesses in rural and other underserved areas can link up to the global economy.
· Modernizing Roads, Bridges, Transit and Waterways
· $30 billion for highway construction;
· $31 billion to modernize federal and other public infrastructure with investments that lead to long term energy cost savings;
· $19 billion for clean water, flood control, and environmental restoration investments;
· $10 billion for transit and rail to reduce traffic congestion and gas consumption.
· Education for the 21st Century
· $41 billion to local school districts through Title I ($13 billion), IDEA ($13 billion), a new School Modernization and Repair Program ($14 billion), and the Education Technology program ($1 billion).
· $79 billion in state fiscal relief to prevent cutbacks to key services, including $39 billion to local school districts and public colleges and universities distributed through existing state and federal formulas, $15 billion to states as bonus grants as a reward for meeting key performance measures, and $25 billion to states for other high priority needs such as public safety and other critical services, which may include education.
· $15.6 billion to increase the Pell grant by $500.
· $6 billion for higher education modernization.
· Tax Cuts to Make Work Pay and Create Jobs
We will provide direct tax relief to 95 percent of American workers, and spur investment and job growth for American Businesses. [marked up by the Ways and Means Committee]
$275 billion in economic recovery tax cuts
· Lowering Healthcare Costs
· $20 billion for health information technology to prevent medical mistakes, provide better care to patients and introduce cost-saving efficiencies.
· $4.1 billion to provide for preventative care and to evaluate the most effective healthcare treatments.
· Helping Workers Hurt by the Economy
· $43 billion for increased unemployment benefits and job training.
· $39 billion to support those who lose their jobs by helping them to pay the cost of keeping their employer provided healthcare under COBRA and providing short-term options to be covered by Medicaid.
· $20 billion to increase the food stamp benefit by over 13% in order to help defray rising food costs.
· Saving Public Sector Jobs and Protect Vital Services
· $87 billion for a temporary increase in the Medicaid matching rate.
· $4 billion for state and local law enforcement funding.
Besides the broad overview above, the U.S. News & World Report story has about 10 pages of further breakdown of the above summarized categories.
