Final passage of the nearly $820,000,000,000 package came on a 244-188 vote with no Republicans supporting it and 11 Democrats against it as well.
Here are some highlights of the package (source: Committee on Appropriations: January 15, 2009)
• $825 billion total (as of 1/15/09)
• $550 billion in new spending, described as thoughtful and carefully targeted priority investments with unprecedented accountability measures built in.
• $275 billion in tax relief ($1,000 tax cut for families, $500 tax cut for individuals through SS payroll deductions)
• $ 90 billion for infrastructure
• $ 87 billion Medicaid aid to states
• $ 79 billion school districts/public colleges to prevent cutbacks
• $ 54 billion to encourage energy production from renewable sources
• $ 41 billion for additional school funding ($14 billion for school modernizations and repairs, $13 billion for Title I, $13 billion for IDEA special education funding, $1 billion for education technology)
• $ 24 billion for “health information technology to prevent medical mistakes, provide better care to patients and introduce cost-saving efficiencies” and “to provide for preventative care and to evaluate the most effective healthcare treatments.”
• $ 16 billion for science/technology ($10 billion for science facilities, research, and instrumentation; $6 billion to expand broadband to rural areas)
• $ 15 billion to increase Pell grants by $500
• $ 6 billion for the ambiguous “higher education modernization.”
Further breakdown (1-15-2009)
Energy
$32 billion: Funding for “smart electricity grid” to reduce waste
$16 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
$30 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 ($15.6 billion to increase the Pell grant by $500; $6 billion for higher education modernization)
Health Care
$39 billion: Subsidies to health insurance for unemployed; providing coverage through Medicaid
$87 billion: Help to states with Medicaid
$20 billion: Modernization of health-information technology systems
$4.1 billion: Preventative care
Jobless Benefits
$43 billion for increased unemployment benefits and job training.
$39 billion to support those who lose their jobs by helping them to pay the cost of keeping their employer provided healthcare under COBRA and providing short-term options to be covered by Medicaid.
$20 billion to increase the food stamp benefit by over 13% in order to help defray rising food costs.
Taxes
Individuals:
*$500 per worker, $1,000 per couple tax cut for two years, costing about $140 billion.
*Greater access to the $1,000-per-child tax credit for the working poor.
*Expansion of the earned-income tax credit to include families with three children
*A $2,500 college tuition tax credit.
*Repeal 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 two.
*Bonus depreciation for businesses investing in new plants and equipment
*Doubling of the amount small businesses can write off for capital investments and new equipment purchases.
*Allowing businesses to claim a tax credit for hiring disconnected youth and veterans
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