Energy
$32 billion Funding for "smart electricity grid" to reduce waste
$20 billion + Renewable energy tax cuts and a tax credit for research and development on energy-related work, and a multiyear extension of renewable energy production tax credit
$6 billion Funding to weatherize modest-income homes
Science and Technology
$10 billion Science facilities
$6 billion High-speed Internet access for rural and underserved areas
Infrastructure
$32 billion Transportation projects
$31 billion Construction and repair of federal buildings and other public infrastructure
$19 billion Water projects
$10 billion Rail and mass transit projects
Education
$41 billion Grants to local school districts
$79 billion State fiscal relief to prevent cuts in state aid
$21 billion School modernization
Health Care
$39 billion Subsidies to health insurance for unemployed; providing coverage through Medicaid
$90 billion Help to states with Medicaid
$20 billion Modernization of health-information technology systems
$4 billion Preventative care
Taxes
Individuals:
$500 per worker, $1,000 per couple tax cut for two years, costing about $140 billionGreater access to the $1,000-per-child tax credit for the working poorExpansion of the earned-income tax credit to include families with three childrenA $2,500 college tuition tax creditRepeal of a requirement that a $7,500 first-time homebuyer tax credit be paid back over time
Businesses:
An infusion of cash into money-losing companies by allowing them to claim tax credits on past profits dating back five years instead of twoBonus depreciation for businesses investing in new plants and equipmentDoubling of the amount small businesses can write off for capital investments and new equipment purchasesAllowing businesses to claim a tax credit for hiring disconnected youth and veteransSource: Associated Press
Highlights of Economic Recovery Plan Spending
3:47 AM
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Recovery Plan
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