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The Stimulus Plan: How to Spend $787 Billion - Pockets

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The Stimulus Plan: How to Spend $787 Billion
By FARHANA HOSSAIN, AMANDA COX, JOHN McGRATH and STEPHAN WEITBURG
A detailed look at the final package passed by Congress, based on estimates by House and Senate committees and the Congressional Budget Office. * View all categories * Filter by: * Category Aid to Individuals Aid to States Education and Job Training Energy Environment Health Housing Infrastructure Other Rural Assistance Science and Research Tax Cuts for Businesses Tax Cuts for Individuals Transportation Unemployment CategoryProgramsCostTax Cuts for IndividualsNew tax credit for workersmore " Provide a tax credit at a rate of 6.2 percent of earned income (after federal taxes are taken out), up to $400 for individuals and up to $800 for couples, in 2009 and 2010. The credit begins to phase out at income levels of $75,000 for individuals and $150,000 for married couples filing jointly. Since the credit is "refundable," people with no federal income-tax liability will get money back. $116.2 billionHealth; Aid to StatesHelp states with Medicaid costsmore " Increase the federal government's contribution for Medicaid costs to help states close their budget gaps. The Senate favored a formula to distribute the money that is more beneficial to less-populous states, whereas the House voted for extra help for those that have experienced large increases in unemployment. The compromise bill splits the difference on formula changes between the House and Senate. $87.1 billionTax Cuts for IndividualsExtend patch for the alternative minimum taxmore " Exempt up to $46,700 of an individual's income and $70,950 of a couple's income from the A.M.T. in 2009 and allow the use of nonrefundable personal credits to avoid the A.M.T. The tax was originally aimed at the very rich but has begun to engulf middle-income families because it has not been adjusted for inflation. Each year, Congress creates a temporary fix to keep millions of people from paying the alternative minimum tax. $69.8 billionEducation and Job Training; Aid to StatesHelp states prevent cuts to essential services like educationmore " Includes nearly $40 billion for local school districts and public colleges and universities. $53.6 billionUnemploymentExtend and increase unemployment compensationmore " Continue an extended unemployment benefits program, set to expire at the end of March, through the end of 2009; extend the average weekly payment, about $300, by $25. The program would provide jobless workers an additional seven weeks of compensation, on top of the 13 weeks they would regularly get. Workers in states with high unemployment rates would get an additional 13 weeks, to a total of 33 weeks. Unemployment compensation for railroad workers, who are not included in the federal or state unemployment system, would be extended to 13 weeks. $35.8 billionTransportationProvide money for highways and bridgesmore " Provide money to states to repair or construct highways or bridges, reallocating money that is not spent quickly. $27.5 billionHealth; UnemploymentHealth coverage under Cobramore " Subsidize 65 percent of the cost of premiums for jobless workers to keep group health coverage for nine months. Such workers would otherwise have to pay 102 percent of premiums, including the employer's share. To be eligible, workers need to have been forced out of their jobs between Sept. 1, 2008, and Dec. 31, 2009. A provision in the House bill would have made Cobra health benefits available to workers on the job for more than 10 years and those over age 55 until they are eligible for Medicare, but it was not included in the final draft. $25.1 billionAid to IndividualsIncrease food assistancemore " Provides $20 billion to increase benefits for the Supplemental Nutrition Assistance Program (formerly the Food Stamp Program) by 13 percent. Also includes $500 million for a special nutrition program for women, infants and children (WIC), $100 million for senior nutrition programs, $100 million for school lunch program and $150 million for food banks. $20.9 billionHealthIncentives to Medicaid and Medicare providers to adopt health information technology $17.2 billionEducation and Job Training; Aid to IndividualsIncrease the maximum Pell Grant by $500, from $4,850 to $5,350 $15.6 billionTax Cuts for IndividualsExpand eligibility for Child Tax Creditmore " Allow households making at least $3,000 to subtract $1,000 from their tax bill for each child in 2009 and 2010. Under current law, the tax credit is of no use to families with incomes below $12,550. $14.8 billionAid to IndividualsProvide cash payment to seniors, disabled veterans and other needy individualsmore " Give a one-time payment of $250 to recipients of Social Security, Supplemental Security Income, railroad retirement benefits and veterans disability compensation or pension benefits. $14.4 billionTax Cuts for Businesses; EnergyExpand tax incentives for renewable energy facilitiesmore " Extend production tax credit for wind energy facilities through 2012 and other renewable energy facilities through 2013. Allow renewable facilities to claim investment tax credit instead of production tax credit. Remove cap on investment tax credit for small wind property. Allow renewable energy producers to claim a 30 percent cash grant from the Treasury Department in lieu of the 30 percent investment tax credit. $14.0 billionEducation and Job Training; Tax Cuts for IndividualsExpand higher education tax creditsmore " Expand the federal Hope scholarship for 2009 and 2010 to provide a tax credit of up to $2,500 a year for all four years of college tuition, instead of $1,800 a year for the first two years. Also, the credit would now be 40 percent refundable and cover costs of textbooks. The tax credit would phase out for individuals making between $80,000 and $90,000 and couples earning between $160,000 and $180,000. Allow computer-related expenses to be exempt under tax-advantaged college savings plans in 2009 and 2010. $13.9 billionEducation and Job TrainingProvide additional money to schools serving low-income childrenmore " Provide additional money to Title I schools, which serve poor children; the money ($13 billion over two years) would increase annual spending by more than 40 percent. $13.0 billionEducation and Job TrainingProvide additional money for special educationmore " Increase the federal government's share of the cost of teaching children with special needs. $12.2 billionEnergyModernize the electric gridmore " Make the electric grid "smarter," by improving communication so electricity can be distributed and used more efficiently. $11.0 billionAid to States; Education and Job TrainingCreate new bonds for improvements in public educationmore " Create $22 billion of new tax credit bonds for the construction and repair of public school facilities or to acquire land for construction of new public schools. Authorize states and local governments to issue another $1.4 billion in bonds to finance improvements in low-income school districts. $10.9 billionHealth; Science and ResearchProvide additional financing to the National Institutes of Health for research and infrastructuremore " Includes $8.5 billion for research grants, in areas such as cancer, Alzheimer's, heart disease and stem cells, and $1.5 billion to renovate research facilities. $10.0 billionTransportationInvest in rail transportationmore " Expand passenger rail capacity and make grants for high-speed rail projects, including Amtrak. $9.3 billionTransportationInvest in public transitmore " Provide grants to states for public transit infrastructure investment, reallocating money that is not spent quickly. $8.4 billionHousing; Tax Cuts for IndividualsIncentive for first-time homebuyersmore " Provide first-time home buyers with a refundable tax credit of up to $8,000, up $500 from the original credit enacted last year, for purchases made this year (before Dec. 1). The credit phases out for single taxpayers with adjusted gross incomes that exceed $75,000 (or $150,000 for married couples filing jointly). The buyer will forfeit the credit if he or she sells the house within three years. $6.6 billionAid to StatesIncentives for economic recovery in distressed areasmore " Create $25 billion of new tax credit bonds for investment in areas that have significant poverty, unemployment or home foreclosure. Increase tax credits to $5 billion from $3.5 billion in 2008 and 2009, for a program that provides incentives for businesses to locate in economically distressed communities. Authorize $2 billion in tax-exempt bonds for use by Indian tribes for economic development without any restrictions (currently bonds issued by tribal governments must satisfy an "essential government function" requirement.) $6.5 billionEnergyProvide grants to cities, counties and states to increase energy efficiency $6.3 billionEnergyProvide additional financing for Innovative Energy Loan Guarantee programmore " Guarantee loans for renewable energy or electricity transmission projects that "avoid, reduce, or sequester air pollutants or anthropogenic emissions of greenhouse gases," according to the program's Web site. $6.0 billionEnvironmentClean up sites formerly used by the Defense Department $6.0 billionEnvironmentFinance local water projectsmore " Provide money for wastewater treatment projects and projects that improve the quality of drinking water. $6.0 billionTax Cuts for BusinessesExtension of bonus depreciationmore " Gives companies a 50 percent bonus deduction on capital investments made in 2008 that would normally be depreciated over many years. Businesses can choose to accelerate refunds of research and development credits and alternative minimum tax credits in lieu of bonus depreciation. $5.9 billionEnergy; Aid to IndividualsIncrease financing for home weatherization programmore " Help low-income families make their homes more energy efficient, through projects like adding insulation. $5.0 billionUnemploymentExempt unemployment compensationmore " Exempt the first $2,400 of unemployment insurance benefits from federal income taxes in 2009. $4.7 billionTax Cuts for IndividualsIncrease Earned Income Tax Creditmore " Increase the E.I.T.C. to 45 percent, from 40 percent, of the first $12,570 earned by families with more than three children in 2009 and 2010. $4.7 billionInfrastructureProvide additional money to the Army Corps of Engineersmore " Includes $2 billion for construction projects like dam repair and flood control, $1.9 billion for maintenance, $500 million for projects along the Mississippi River and $100 million to clean up early atomic energy facilities. $4.6 billionEnergyIncrease energy efficiency in federal buildings $4.5 billionInfrastructureCreate new program to expand broadband accessmore " Finance broadband infrastructure to expand access in rural and underserved areas. $4.5 billionAid to StatesCreate a tax credit bond option for state and local governmentsmore " Allow state and local governments to sell taxable debt in 2009 and 2010 and receive direct subsidies from the government. $4.3 billionAid to States; UnemploymentGive states aid to properly administer unemployment compensationmore " Provides one-time grants to encourage states to modernize their systems to increase coverage among low-wage, part-time and other jobless workers. Provide additional assistance to administer the extended unemployment benefits program. $4.2 billionInfrastructureMake military facilities more energy efficient $4.2 billionAid to StatesProvide additional financing for state and local law enforcementmore " Includes $1 billion to hire additional police officers, as well as grants for programs to prevent drug-related crime in rural areas, drug trafficking on the Mexican border, domestic violence against women and Internet crimes against children. $4.0 billionEnergy; Infrastructure; HousingRepair and modernize public housing units $4.0 billionEducation and Job TrainingFinance job training programsmore " Focuses on jobs related to health care and the environment. Includes $1.2 billion to create summer jobs for teenagers. $4.0 billionEnergyInvest in fossil energymore " Includes money for near-zero emissions power plants, clean coal technology and carbon capture. $3.4 billionTax Cuts for BusinessesExpand deduction limits for banks buying bonds more " Allow banks to deduct 80 percent of the cost of buying and carrying tax-exempt bonds sold by issuers who sell up to $30 million worth of bonds per year, up from $10 million. $3.2 billionTax Cuts for BusinessesProvide tax break to General Motorsmore " Allow General Motors to claim refunds for taxes paid in earlier, profitable years. General Motors and Chrysler received a multibillion-dollar federal bailout in December to prevent them from collapsing. $3.2 billionInfrastructureRepair and improve facilities on public lands and parks $3.1 billionScience and ResearchProvide additional financing for the National Science Foundationmore " Finance research, focusing on the environment and global competitiveness. $3.0 billionInfrastructureProvide additional money to the Department of Homeland Securitymore " Includes $1 billion for airport baggage screening equipment as well as money for border security and building fire stations. $2.8 billionAid to StatesIncrease block grants for welfare programmore " Provide states additional money for the federal Temporary Assistance for Needy Families program, which was created during the 1996 welfare reform and requires recipients to work in order to receive cash assistance. $2.7 billionEnergy; Science and ResearchConduct energy efficiency and renewable energy research $2.5 billionInfrastructure; Rural AssistanceProvide additional financing to improve communications in rural areasmore " Includes financing for two Agriculture Department programs to improve communications in rural areas: one to expand broadband and another to improve health care and education through technology like video conferencing. $2.5 billionHousingHelp states and local governments acquire and repair low-income housingmore " Includes $100 million for competitive grants to local governments and nonprofit organizations to remove lead-based paint hazards. $2.4 billionHealth; InfrastructureImprove Defense Department facilities related to the quality of lifemore " Construct or repair child development centers, health clinics, barracks and dormitories. $2.3 billionEducation and Job TrainingIncrease financing for Head Start and Early Head Startmore " Allow more children to participate in childhood education programs. $2.1 billionEnergy; Tax Cuts for IndividualsIncrease tax credits for residential energy efficiency improvementsmore " Increase tax credits for purchases to make homes energy efficient, such as new furnaces or insulation, to 30 percent through 2010, for up to $1,500. $2.0 billionEnergy; Tax Cuts for IndividualsIncentive for alternative vehiclemore " Increase the tax credit for purchasing plug-in hybrid vehicles to $7,500. $2.0 billionHealthProvide additional financing for the Office of the National Coordinator for Health Information Technology $2.0 billionHousingMake full-year payments to owners receiving Section 8 housing vouchers $2.0 billionAid to IndividualsProvide additional child caremore " Provide child care for children in low-income families. $2.0 billionEnergySupport battery manufacturingmore " Provide grants to manufacturers of advanced battery systems and car batteries in the United States. $2.0 billionHousingRedevelop abandoned and foreclosed homes $2.0 billionHealth; InfrastructureFinance renovations and technology upgrade at community health centers $2.0 billionEnergy; Science and ResearchProvide additional financing for science and research at the Department of Energymore " Includes $400 million for rapid development of clean energy technology. $2.0 billionTax Cuts for IndividualsIncentive for car buyersmore " Allow those who buy a new vehicle in 2009 - with a price tag of up to $49,500 - to deduct state, local and excise taxes as well as interest on their car loan. The tax break is an above-the-line deduction, which means that it can be taken even by those who do not itemize other deductions on their tax returns. The deduction begins to phase out for single tax filers with adjusted gross income of more than $125,000, or $250,000 for married couples filing jointly. $1.7 billionTax Cuts for Businesses; EnergyIncentive for advanced energy investmentmore " Establish a new 30 percent investment tax credit for manufacturers of advanced energy property, which may include technology for the production of renewable energy, energy storage, energy conservation, efficient transmission and distribution of electricity, and carbon capture and sequestration. $1.6 billionTax Cuts for BusinessesDelay recognition of certain cancellation of debt incomemore " Allow some businesses to defer tax on income that is recognized when they buy back their debt at a discount. $1.6 billionAid to States; UnemploymentExpand Trade Adjustment Assistance programmore " Increase financing to states for the Trade Adjustment Assistance Program, which provides retraining and extended unemployment benefits for workers who have lost their jobs because of trade or outsourcing. * $1.6 billionHousingReduce homelessnessmore " Provide short-term or medium-term housing assistance or relocation assistance $1.5 billionTransportationInvest in local transportation projects more " Provide competitive grants for state and local transportation investments. $1.5 billionAid to States; EnergyAuthorize more state and local bonds for energy-related purposesmore " Authorize an additional $1.6 billion in renewable energy bonds and $2.4 billion in energy conservation bonds to finance state and local government projects. $1.4 billionEnvironment; Rural AssistanceFinance rural water and waste facilities more " Provide grants and loans for water supply and waste disposal programs in rural areas. $1.4 billionTransportationInvest in air transportationmore " Make grants to airports to improve safety or increase capacity; repair Federal Aviation Administration equipment and facilities. $1.3 billionHealthExtend Transitional Medical Assistance programmore " Extend the program, set to expire in June, through 2010. The program provides temporary health care coverage to families who have become ineligible for Medicaid because of increased earnings. $1.3 billionEnvironmentFinance national environmental cleanupmore " Provide money for the Environmental Protection Agency's cleanup programs, including Superfund. $1.2 billionHealth; InfrastructureConstruct and repair veterans' hospitals and cemeteries $1.2 billionScience and ResearchCompare the effectiveness of medical treatmentsmore " Research how well treatments funded by Medicare, Medicaid and SCHIP work. $1.1 billionHealthPrevent cuts to health care providersmore " Block Medicare payment cuts to teaching hospitals, hospices and long-term care hospitals. Apply prompt payment requirements to nursing facilities and hospitals participating in Medicaid. $1.0 billionEnvironment; Rural AssistanceProvide water to rural areas and Western areas impacted by drought $1.0 billionHealth; Science and ResearchMake grants to help prevent diseasemore " Includes hospital infection prevention programs, immunization programs and preventive health grants. $1.0 billionScience and ResearchProvide additional financing for the National Aeronautics and Space Administrationmore " Pay for climate research and researching environmentally responsible airplanes. $1.0 billionOtherModernize Social Security Administrationmore " Includes $500 million for a new computer facility and another $500 million to help reduce processing backlogs. $1.0 billionAid to StatesHelp states collect child supportmore " Rescind a 2005 law that cut state financing for child support enforcement through 2010. $1.0 billionHousingProvide additional financing for Community Development Block Grantsmore " Finance local economic development activities, like affordable housing programs. $1.0 billionOtherProvide money for 2010 census $1.0 billionTax Cuts for BusinessesExpand net operating loss carry-back provision for small businessesmore " Allow small businesses with annual receipts under $15 million to cut taxes by writing off current losses against profits earned in the past five years, instead of the usual two years. $947 millionScience and ResearchProvide additional financing for the National Oceanic and Atmospheric Administrationmore " Conduct habitat restoration projects and coastal charting, and upgrade computers for climate research. $830 millionTax Cuts for BusinessesExpand tax break for small business stock salesmore " Allow small businesses to exclude up to 75 percent of the gain from the sale of some stock held for more than five years. $829 millionEducation and Job TrainingFinance technology upgrades in schoolsmore " Includes money for computer and science labs and teacher technology training. $650 millionAid to IndividualsProvide coupon to convert to digital televisionsmore " Continue the coupon program to enable households to convert from analog television transmission to digital transmission. $650 millionAid to StatesHelp states find housing and jobs for disabled peoplemore " Includes $500 million in grants to states to provide vocational training for people with disabilities, as well as $140 million to help disabled individuals live independently in their communities. $640 millionAid to StatesRepeal alternative minimum tax on private activity bondsmore " Exempt states from paying the A.M.T. on the interest on private activity bonds. $555 millionAid to IndividualsHelp defense employees sell homesmore " Help service members and federal employees sell their homes in areas where home prices have declined because of base closures. $555 millionHealthExtend Qualified Individual Programmore " Extends the program to assist low-income individuals with Medicare Part B premiums through 2010. Medicare Part B helps cover medical services like doctors' services and outpatient care. $550 millionEducation and Job Training; Aid to StatesHelp states and local school districts track student data and improve teacher qualitymore " Includes $250 million in competitive grants for states to develop data systems that analyze individual student data and $300 million to address teacher shortages and to provide financial incentives for teachers who raise student achievement. $550 millionEnergy; Infrastructure; HousingRepair and modernize about 4,200 Native American housing unitsmore " Half of the money will be distributed by formula and half will be competitively awarded to projects that can be started quickly. $510 millionEducation and Job Training; Aid to States; UnemploymentHelp states find jobs for unemployed workers $500 millionEducation and Job Training; HealthTrain primary health care providers, including doctors and nursesmore " Also help pay medical school expenses for students who agree to practice in underserved communities. $500 millionEducation and Job Training; Energy; UnemploymentTrain workers for careers in energy efficiency and renewable energy fields $500 millionHealthImprove health services to American Indians and Alaska natives $500 millionTax Cuts for BusinessesReduce holding period for taxation of companies that convert into S corporationsmore " Under current law, if a taxable corporation converts into an S corporation, the conversion is not a taxable event. However, following such a conversion, an S corporation must hold its assets for ten years in order to avoid a tax on any built-in gains that existed at the time of the conversion. The bill would temporarily reduce this holding period from ten years to seven years for sales occurring in 2009 and 2010. $415 millionEnergy; Aid to StatesProvide grants to states for energy-efficient vehicles and infrastructuremore " Includes $300 million to help state and local governments purchase hybrid vehicles and $400 million to start electrical infrastructure projects that encourage the use of electric vehicles. $400 millionEnergy; Aid to IndividualsProvide consumers rebates for energy-efficient appliances $300 millionEnergyReplace older vehicles owned by the federal government with hybrid and electric cars $300 millionAid to StatesDelay withholding tax on paymentsmore " Delay for one year the implementation of a 2005 law that requires federal, state and local governments to withhold three percent of any payments made for property or services. $291 millionAid to StatesModify speed requirements for use of bonds to finance high-speed railmore " Allow states to use private activity bonds to finance trains that can reach a speed of up to 150 miles per hour. Under current rules, states can only finance trains that travel at least at that speed. $288 millionTax Cuts for Individuals; EnergyExpand tax incentives for residential renewable energy propertiesmore " Remove dollar caps on the 30 percent residential credit for solar thermal, geothermal and small wind property. $268 millionEnergy; HousingImprove energy efficiency in government-subsidized apartment buildings $250 millionInfrastructure; OtherFinance improvements to Agriculture Department infrastructuremore " Includes money for renovations, security improvements and technology upgrade at various agencies under the Agriculture Department $249 millionHealth; Aid to IndividualsOther Medicaid expansionsmore " Includes a provision to eliminate cost-sharing for American Indians and Alaska Natives in Medicaid. $239 millionOtherProvide government agencies money for oversightmore " Allocate money to agencies for oversight and audit of programs being financed by the stimulus bill. $233 millionTax Cuts for BusinessesProvide incentive for hiring disadvantaged workersmore " Offer up to $2,400 in tax credits to businesses that hire certain disadvantaged workers like unemployed veterans and "disconnected youth." $231 millionTax Cuts for BusinessesExpand use of industrial development bondsmore " Allow small-issue industrial development bonds for "creation of intangible property" in the next two years. Industrial development bonds are tax-exempt bonds issued by a state or local government to finance manufacturing or production of "tangible personal property." $203 millionHousing; Aid to Individuals; Rural AssistanceProvide loans for rural homeownersmore " Support $11.4 billion in direct and guaranteed loans to provide home ownership opportunities for low to moderate-income families in rural areas. $200 millionEducation and Job TrainingProvide additional money for College Work-Study program $200 millionOtherExpand national service programmore " Put approximately 16,000 additional AmeriCorps members to work doing national service, meeting needs of vulnerable populations and communities. $200 millionTax Cuts for Individuals; TransportationEqualize mass transit and parking benefitsmore " Equalize tax-free commuter benefits provided by employers for transit and parking at $230 per month for 2009 and index both benefits to inflation. Under current rules, only $120 of the mass transit benefit and $230 of the parking benefit is tax-free. $192 millionRural AssistanceProvide loans for rural businessesmore " Support $3 billion in guaranteed loans and $20 million grants for rural busineeses. $150 millionInfrastructure; Rural Assistance; Aid to StatesProvide loans for rural developmentsmore " Support $1.17 billion in guaranteed loans and $67 million in grants to help rural communities develop essential facilities, like hospitals. $150 millionTax Cuts for BusinessesProhibit recollection of tariff paymentsmore " Prohibits U.S. Customs and Border Protection from demanding that American lumber, steel and other companies repay duties that the agency collected on Canadian and Mexican imports and then distributed to the companies between 2001 and 2005. $90 millionAid to Individuals; Aid to StatesHelp states provide services to homeless childrenmore " Give state grants to provide meals and transportation for homeless children. $70 millionAid to StatesAllow state housing agencies to claim Treasury Department grantsmore " Allow states to trade in a portion of their 2009 low-income housing tax credits for Treasury grants to finance affordable housing projects. $69 millionEnergy; Tax Cuts for BusinessesIncentive for alternative fuel pumpsmore " Increase tax credits for gas stations and other businesses that install non-hydrogen, alternative fuel pumps to 50 percent through 2010, for up to $50,000. $54 millionTax Cuts for BusinessesAllow more small business deductionsmore " Allow businesses to deduct up to $250,000 for capital investments made in 2009, with a total cap of $800,000. The limits were temporarily increased by Congress last year for investments made in 2008. Prior to that, small businesses could write-off $125,000 for capital expenditures, with a total cap of $500,000. $41 million
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