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American Recovery & Reinvestment Plan Details

The Committee on Appropriations released an executive summary on the details of the American Recovery & Reinvestment Plan [3], the formal name for President Obama’s stimulus package [4], and it’s thirteen pages long with a decent level of detail. First I’ll list the high level overview then point out some of the things that might affect you. If you’re curious about a stimulus check, it’s not in there.

As for tax cuts, there is this item: “We will provide direct tax relief to 95 percent of American workers, and spur investment and job growth for American Businesses.” but the detailed section only discusses tax cuts for small business and not to individuals.

First, what’s in it? This is just a high level overview of the categories and approximate spending, ordered by total size of the section, in the bill.

Stimulus Plan Spending Categories

The major sections total $518.7 billion dollars at this point. So, let’s see how we spend over half a trillion dollars in thirteen pages… shall we?

Education for the 21st Century: $141.6 billion

Help Workers Hurt by the Economy: $102 billion

Save Public Sector Jobs and Protect Vital Services: $91 billion

Modernize Roads, Bridges, Transit and Waterways: $90 billion

Clean, Efficient, American Energy: $54 billion

Lower Healthcare Costs: $24.1 billion

Transform our Economy with Science and Technology: $16 billion

Spending Likely To Affect You

The document goes on and breaks down each of the larger categories into smaller categories that are a little more manageable. For example, under “Clean, Efficient, American Energy,” it continues to discuss how we will spend $11 billion towards a more reliable, efficient electricity grid and $6.7 billion to modernize GSA Federal buildings. While those may affect you, as you might work for a firm that designs or installs modernizing systems, they don’t affect most Americans – I’ll try to pull out the items likely to affect all of us directly in some way (or at least a lot of us). I skipped infrastructure type improvements, except for transportation, such as funding for school improvements and teacher training because it helps most people indirectly.

There are a lot of items I didn’t list but the document is only 13 pages long so give it a look. Here’s the Wall Street Journals’ interpretation of the plan [5].