The Stimulus and You
Abdalla Straker
Issue date: 2/24/09 Section: Features
Tuesday February 17, President Barack Obama achieved a significant milestone under his administration with the He signing of the new $787 billion fiscal stimulus bill.
After much revision and debate in the Senate, an agreement was finally reached, and signed by the president.
Obama believes that the bill will create or save 3.5 million jobs, and further help to resuscitate the ailing economy.
There is still much criticism of the bill at present. So the question now is, exactly what is in this bill and more specifically what benefits are there for our economy?
Here are some of the bill's contents and what can be expected:
(1) First-time home buyers will receive an $8,000 tax credit
(2) Americans may be eligible for a tax credit of $400 for single workers or $800 for married couples.
(3) Taxpayers now know the precise alternative-minimum tax amounts earlier than usual.
(4) $50 billion aimed at ushering in a clean-energy future and money or tax credits for Americans to weatherize their homes and buy hybrid cars.
(5) The unemployed will get a $25 increase in weekly benefit checks through 2009.
(6) $7 billion for broadband deployment in rural markets across the United States.
(7) Mass Transit commuters benefit of increased transit pass perk.
(8) Required tax payments for small businesses is reduced.
The Money Page will keep you updated as we receive more information.
After much revision and debate in the Senate, an agreement was finally reached, and signed by the president.
Obama believes that the bill will create or save 3.5 million jobs, and further help to resuscitate the ailing economy.
There is still much criticism of the bill at present. So the question now is, exactly what is in this bill and more specifically what benefits are there for our economy?
Here are some of the bill's contents and what can be expected:
(1) First-time home buyers will receive an $8,000 tax credit
(2) Americans may be eligible for a tax credit of $400 for single workers or $800 for married couples.
(3) Taxpayers now know the precise alternative-minimum tax amounts earlier than usual.
(4) $50 billion aimed at ushering in a clean-energy future and money or tax credits for Americans to weatherize their homes and buy hybrid cars.
(5) The unemployed will get a $25 increase in weekly benefit checks through 2009.
(6) $7 billion for broadband deployment in rural markets across the United States.
(7) Mass Transit commuters benefit of increased transit pass perk.
(8) Required tax payments for small businesses is reduced.
The Money Page will keep you updated as we receive more information.
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