How do you measure up in the Obama tax credit and stimulus plan? Here’s a lowdown of the plan, by the numbers:
$300 one-time cash payment to: Seniors, disabled people, and veterans.
$500 tax cut per invididual (for two years)
$1000 tax cut per couple (for two years)
$1000 tax cut per child–if you count as the working poor
$2,500 tax credit for college tuition
$7,500 tax credit for middle-class first-time homebuyers who buy by mid-2009
No taxes on unemployment benefits (a temporary suspension)
Companies in the red can claim tax credits on profits of up to five years ago
Businesses buying plants and equipment get bonus depreciation
Small businesses can double the amount they’re allowed to write off for new equipment and capital investments
More tax credits for energy-efficient homes
$31 billion total tax credits for companies who increase production of renewable energy and boost their energy efficiency
$40 billion in extended unemployment benefits through the end of the year
Extend unemployment to part-time workers
Increase unemployment benefits by $25/week
Subsidized health care insurance for unemployed people (budget: $27 billion)
$87 billion for state Medicaid
$27 billion to construct and repair bridges and roads
$20 billion to update university and school campuses
$9 billion for Internet broadband expansion (mostly to rural areas)
$1.4 billion for water projects in the West
$77 billion worth of grants for state special education and local school districts
$500 more to the financial limit on a Pell Grant
Outcomes (from Newsday):
Double within three years the amount of energy that could be produced from renewable resources.
Upgrade 10,000 schools for about 5 million students.
Save $2 billion a year by making federal buildings energy efficient.
Triple the number of undergraduate and graduate fellowships in science.
Tighten security at 90 ports.