by Colin Lovett, PICurrent Managing Producer
As you’ve probably heard, the House of Representatives has passed the massive $787 billion dollar stimulus package aimed at getting our economy moving again. The Senate is expected to act later today and President Obama is expected to sign the bill soon.
So what’s in it for us? Well, the new measure has dozens of goodies. Here are a few highlights:
- Billions for renewable energy tax credits and money to modernize our electricity grid as well as weatherize low and moderate-income homes.
- A huge chunk of money for highway construction, rail and mass transit projects, modernizing federal buildings and upgrading our water systems.
- An increase and extension for unemployment benefits, an increase in food stamp benefits and subsidies to help with Medicaid and health insurance.
- Expanding broadband access in poor and rural areas.
- More funding for education programs, including special education.
- Programs to make medical records digital.
- A $400 tax credit for working individuals and $800 tax credit for working couples.
- The federal government will now pay for 65% of the health care premiums of people who lose their jobs but keep their health plan through COBRA.
- A $250 check for everyone on Social Security.
- First time homebuyers can receive up to $8,000 in tax credits if they purchase the home in 2009.
- Billions in aid to the states, most of which are having big budget problems.
These are only some of the highlights. What they mean for most Americans are two things:
- More money in your pocket from tax breaks.
- More job opportunities from spending on different projects.
We’ll be back next week to look more closely at the the different parts of the bill and how they each might have an impact on your life.
I hope this works, but I am concerned the thing passed in DC will just be spent on handouts to the powerful. We need some jobs, I just hope this helps.
Bound to work. I want them to spewnd more.
Thanks for writing Chris and Erin. Chris, I’m also hopeful that this will work and boost jobs. Erin, a lot of people feel like you do about spending more. We might very well see more spending this year.
Stay tuned as we break down the different sections to help identify what’s in it for us.
i have a questionim working and my husband is retired how does that fit in to the stimulate package,,for married couples
Hi Denise,
If your husband is on Social Security, he will soon be getting an extra $250 check. You will be eligible for the $400 tax credit for each worker. What industry do you work in? Some workers will benefit more than others depending on what type of job they have. I’m glad to hear you still have a job. I will be talking with some experts this week and try to get more info to you. Thanks for writing in.
The Stimulus Plan is just a waste of taxpayer’s hard earned money. What is giving low-income people more money going to do? They are already receiving aid and will be rewarded for doing nothing more? Now, I totally understand the need to help those who have been laid of and may now be considered low-income. There should be specific programs to target and help those people!
This plan does little to actually produce jobs (which is the most needed thing in this economy).
And to the comment… bound to work spend more money??? Are you kidding me? What happened with Bush’s stimulus plan? It did little for the economy. Spending money does not solve problems. For years and years, Americans have spent money – money that they did not have (i.e. credit cards) which is part of the reason we are in this mess. In times like this, consumers start saving because they realize how bad the economy is – and rightfully so. What am I saying? I’m saying that these plans need BALANCE – you need to spend and save. Of course the only thing the government can do is SPEND but are they spending on the appropriate items?
If you ask me (and of course this is just my opinion) the majority of this plan is ALL short-term and has no lasting effects.
My position as 38 others were eliminated 1/31/09 from a local hospital. I feel that later this year executives in this health care group will receive a bonus for saving approximately 2 million dollars in an annual budget. That savings which is a kudo for a high dollar executive was a major portion of what my husband and I count on each month.
I feel that the hospital as many business entity’s do not take into consideration the dignity of the human worker.
I understand the economy needs stimulating but I feel this amount of money is too large and too unaccountable. I am glad almost half of the congress voted against it.
After watching the last stimulous packages of banks, insurance and car companies that still want MORE MONEY that our representatives are using corporate America’s attitude.
Give a little to the ones like us…very needy…and give a lot to their friends and flunkies.
According to wikepedia congressmen make almost $200,000.00 per year plus perks. As long as our country is a trillion dollars in debt I feel each one should work for minimum wage of their state. Then they would have a vested interest in a ‘living wage’. What do you think about that?
And they should be paid per attendance…if they aren’t there as many days as they are required…which is not really very many to be in Washington…and if they do not vote they should not be paid.
I want to know why or if…contracts to upgrade and provide military equipment (and hospital benefits) to our soldiers is not included in this stimulous.
Government contracts provide good jobs. It would seem like to me that the car companies could benefit from those type of contracts instead of freebies.
I also would like to see Food stamps and unemployment benefits increased. I hope this is a quick working part of this stimulous. Grownups get hungry too! It is my understanding that restrictions to foodstamps exclude individuals and couples without children and that it is based on last year’s income.
I called and verified that I will not qualify since my husband is still working and making over the poverty level but we will have trouble making our bills. We will do it but we will be doing without a lot of things that we like. For instance my 7th grader will not be going on the 7th grade trip and he won’t get other perks either…and our meals will include a lot of rice and beans. I thank God that we still have an anchor with my husband’s work but my heart goes out to what I heard while in the unemployment lines and processes that I have attended. I heard several people say that they had applied for food stamps and through the above listed criteria missed the food wagon. Is this information reliable?
I do not have much confidence in the stimulous package. I think it is long term debt. I hope that I am proved incorrect and that we blast out of this recession but I believe until people in authority use integrity and treat people the way they want to be treated…and are held accountable to abide by all the same rules; such as being tax payers and wage reduction when the budget is not met…we are stuck in a selfish executive level mire.
Unemployed mom and concerned American are both voicing some of the same concerns I hear all over the country right now. I think the bank and finance bailout last year primed everyone to expect government money would only go to the wealthy. I say we need to take a closer look at this package.
It has many flaws, but it will probably create jobs. the question is, how many. I hear both of your concerns that those hurting the most will benefit the least. This may or may not come true. I hope not.
There is certainly a lot of pain going through the country right now. You hear it from almost everyone. I think this stimulus is just the start for the government. One place I think they should have kept more money in this budget is for the states, who are going to be slashing services to make up for huge budget shortfalls. These cuts in services will hurt the poor the most.
Thank you both for sharing your stories and opinions with us.
The American people are so limited this president is a very intelligent eduated man and is concerned
all of the people.I guess people would perfer 8 more years of the suffering we just endured.MAY GOD BLESS OBAMA
Interesting thoughts Dell.
Or perhaps I should say interesting thoughts that you want to ban thoughts and concerns of your fellow citizens.
And if you read my note again I do not even mention any president – I mention corporations and congress (elected officials…servants of American Citizens).
What I am reading through your short note is fear and I also suffer from fear sometimes. I suggest that you take things slower; read and listen and appreciate the Truth.
The Truth w i l l set you free. I actually think you probably are trying to do this.
And the Truth will loosen the chains of most everyone.
Americans are required to question what their representatives do.
We are a government of the people, by the people, for the people. So we have a job to hold all public servants accountable to give a full days work for a days wage whether we want to or not…and I do not think that we have done a good job of being interested citizens.
Your note kind of proves my thought on that. We also should hold all adult citizens accountable to tell the truth.
I could speak to your comments about the president (and implied comments about past presidents) but I want to agree with you as much as I can.
I think most of our presidents are educated and therefore intelligent. Few of them are great and no one is without having to prove themselves.
I don’t know much about this president and neither do you. Most information we have is challenged. We do not have access to his education credentials and are not sure that he graduated from any school or grades that he made.
We did know that about all the other presidential candidates — even the man who was running from Nicaragua and still is a citizen there! Did you know that? I think this election was illegal due to the flawed entries and process.
No president can do the types of things that have put us into debt for generations without congress voting to agree with him.
My complaint is with government and the process and the attitude of our public servants especially the congress and senators -who actually signed the stimulus bill — (and actually were the same ones or the same job category that made the Iraq and Afghanistan war official).
And let me share this thought with as much kindness as you can receive…I do believe with my whole thought process that the media misrepresented the information that the American public was entitled too during the recent presidential election.
And I believe that when history is written we as a people will be talked about as some of the most gullible followers that have ever existed. And I believe that the media is continuing to not represent the truth to the American public regarding this stimulus package.
It is not unkind to demand that people do their work and to hold them accountable.
And I do pray (with you I hope) for all of these representatives, and the president and my family and friends and you and all Americans…
May God bless us — each one — with what we need to do jobs that give glory to Him, provide for our families and help others.
May God bless us all to hold our representatives accountable — just as each of us is accountable to whomever gives us our paycheck!
[...] The good news is that a wide range of job opportunities are expected to open up across the nation. Read our previous posts about jobs and the recently passed stimulus bill here and here. [...]
I am international student with my dependent and last year in our tax return we got all of our tax( it was less than 1000) .There was no deduction in our Tax.We came here in 2008 feb and started working from may.I was wondering that do we also get that stimulate package??