E-Newsletter
January 19, 2009
Economic Stimulus Package Could be Great
for MBEs and Corporate Members
The House of Representatives last week approved a $825 billion economic
stimulus package that has a grab bag of programs that are designed
to increase employment and economic activity. The program will, if
enacted, have a direct impact on the top lines of many corporate
members and MBEs in the NMSDC network. This plan, unlike the financial
services bailout will extend to just about every industry in the
economy. MBEs need to pay particular attention to the details of
the stimulus package as it makes its way through the Senate and onto
the desk of President Obama.
Here are a few highlights of the bill that passed last week:
- $32 Billion for "smart electricity grid to reduce waste
- $20 billion for R&D in renewable energy plus other tax credits
- $6 billion to fund the weatherization of homes
- $10 billion to build and improve science centers
- $6 billion for high speed internet access to rural and underserved
areas
- $32 billion for transportation projects
- $31 billion for construction of federal buildings
- $19 billion for water projects
- $10 billion for rail and mass transit projects
- $41 billion in grants to local school districts
- $79 billion to States for fiscal relief and assistance
- $21 billion for school modernization
- $31 billion for health insurance for unemployed workers
- $90 billion to states for Medicaid
- $20 billion to modernize health information systems
- $4 billion for preventive care
In addition to this massive spending that will total over $550 billion
of the $825 billion package there will be $275 billion in tax benefits.
These will include $500 to every single taxpayer and $1,000 for married
taxpayers. These benefits will phase out at $200,000 for married taxpayers.
There are college tuition tax credits that max out at $2,500.00 and
there are additional benefits to assist first time home buyers. |
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