Tuesday, February 17, 2009

Recovery Act Signed into Law

The bill was signed this afternoon by the President. Here is a link to the official White House website that it will use to "track/report on" progress to us. Below is a copy of a table from the site that categorizes how the money will be spent.

Not to be picky, but why do they show "Tax Relief" of $288 Billion, and then in the footnotes "take away" $123 Billion, to make the "Net Tax Relief" amount equal to $165 Billion?

Category
Amount ($ Billions)
*Tax Relief
$288
*State and Local Fiscal Relief
$144
Infrastructure and science
$111
Protecting the Vulnerable
$81
Health Care
$59
Education and Training
$53
Energy
$43
Other
$8


* Tax Relief - includes $15 B for Infrastructure and Science, $61 B for Protecting the Vulnerable, $25 B for Education and Training and $22 B for Energy, so total funds are $126 B for Infrastructure and Science, $142 B for Protecting the Vulnerable, $78 B for Education and Training, and $65 B for Energy.

State and Local Fiscal Relief - Prevents state and local cuts to health and education programs and state and local tax

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