Breakdown of House Stimulus Package - Jan.29, 2009 The House of Representatives passed an $819 BILLION stimulus package that’s on its way to the Senate. The vote went basically straight down party lines (with 12 democrats voting against with republicans).n

Jan.29, 2009

The House of Representatives passed an $819 BILLION stimulus package that’s on its way to the Senate. The vote went basically straight down party lines (with 12 democrats voting against with republicans). There is wide speculation that the cost of the package will increase during Senate negotiations.

ZC examined some of the questionable items in “Stimulus Package = Crap, But Dems Approve!,” but I thought it’d be worthwhile to break down the major components of the plan so we can have a better discussion about the stimulus package.

Currently, the plan contains about $275 billion in tax cuts, and about $525 billion in direct spending and other provisions. Here’s a generic breakdown of the package:

Tax cuts

Payroll-tax holiday: $99 billion
Expanded earned-income tax credit: $25 billion
Tuition tax credit: $10 billion
Business expensing tax breaks: $90 billion
Renewable-energy tax credit: $20 billion

Relief

Expanded unemployment insurance: $42 billion
Health insurance for unemployed: $40 billion
Expanded food stamps: $20 billion
Housing assistance: $11 billion
Supplemental Security Income payments: $4 billion
Welfare: $3 billion

Infrastructure

Highways: $30 billion
School renovation: $20 billion
Health information technology: $17 billion
Transportation projects: $16 billion
Water projects: $8.4 billion
Military and V.A. construction: $7 billion
Accelerated deployment of broadband: $5.6 billion

Help for state and local governments

Medicaid cost sharing: $87 billion
State grants: $79 billion
State and local bond tax credit: $42 billion
Community development: $5 billion
Rural development: $4 billion

Energy efficiency

Federal energy-efficiency projects: $22 billion
Energy-efficiency grants: $18.5 billion
Smart electric grid: $11 billion
Renewable-energy loan guarantees: $8 billion

Human capital

Education programs: $29 billion
Pell grants: $18 billion
Job training: $4.6 billion
Scientific research: $3 billion

Of note, the Congressional Budget Office suggests the bill could create as many as 3.6 million jobs in the next two years, but the low-end estimate is only 1.2 million.

Written by scruffd0g
http://www.zombiechatter.com/2009/01/29/breakdown-of-house-stimulus-package/