The White House has posted a list of what President Obama’s stimulus plan would mean for Washingtonians.
It doesn’t detail some of the major investments in education and transportation infrastructure that’s being planned. It’s more of a consumer’s-eye-view of the plan.
Creating or saving 79,700 jobs over the next two years. Jobs created will be in a range of industries from clean energy to health care, with over 90% in the private sector. [Source: White House Estimate based on Romer and Bernstein, “The Job Impact of the American Recovery and Reinvestment Plan.” January 9, 2009.]
Providing a making work pay tax cut of up to $1,000 for 2,450,000 workers and their families. The plan will make a down payment on the President’s Making Work Pay tax cut for 95% of workers and their families, designed to pay out immediately into workers’ paychecks. [Source: White House Estimate based on IRS Statistics of Income]
Making 67,000 families eligible for a new American Opportunity Tax Credit to make college affordable. By creating a new $2,500 partially refundable tax credit for four years of college, this plan will give 3.8 million families nationwide – and 67,000 families in Washington – new assistance to put college within their reach. [Source: Center on Budget and Policy Priorities analysis of U.S. Census data]
Offering an additional $100 per month in unemployment insurance benefits to 404,000 workers in Washington who have lost their jobs in this recession, and providing extended unemployment benefits to an additional 44,000 laid-off workers. [Source: National Employment Law Project]
Providing funding sufficient to modernize at least 138 schools in Washington so our children have the labs, classrooms and libraries they need to compete in the 21st century economy. [Source: White House Estimate]
Hat tip: Jerry Cornfield.