Kellogg School of Management



The Wall Street Journal: February 10, 2009 The Stimulus Plans: How They DifferThe Senate passed an economic stimulus plan with a price tag of around $840 billion on Tuesday, 13 days after the House passed its own version of the plan with an estimated cost of approximately $820 billion. Now, lawmakers must meet to reconcile the two bills–and multiple competing factions—before the plan can be sent to the White House. House and Senate Democrats are likely to fight over spending items ignored by the other chamber. Moderate Republicans and Democrats who pushed to cut the size of the original Senate package will be unwilling to see its price rise. The White House wants to restore some funding already cut by those moderates. And Senate Democrats may also go after tax breaks inserted by Senate Republicans. Dollars in thousands. All items not titled "Tax Cuts" or "Aid" are considered appropriations. ?DescriptionHouse BillSenate BillDifferenceAidWorkers who have exhausted regular unemployment compensation will get an extra 7 weeks of extended benefits, to a total of 20 weeks. Workers in 29 "high unemployment" states are eligible for a total of 33 weeks. Weekly benefit will be raised by $25. States will receive tax credit incentives for extending their existing qualification criteria. $38,735,000$39,475,000$740,000AidExtra money for temporary assistance for needy families. $2,300,000$2,658,000$358,000AidChild support enforcement$1,000,000$1,150,000$150,000Aid - Health insuranceMoney for states to extend Medicaid coverage to the unemployed and their families, and extending the COBRA eligibility period for some people.$40,032,000$22,601,000-$17,431,000Aid - Health insurance ITPayment incentives for Medicaid and Medicare providers to adopt health information technology.$17,053,000$16,010,000-$1,043,000Aid - MedicaidTemporary increase in Medicaid funding to states.$88,851,000$90,081,000$1,230,000Aid to statesState Fiscal Stabilization Fund$79,000,000$39,000,000-$40,000,000Commerce, science and justiceExtra money for Bureau of Industry and Security operations and administration.$0$20,000$20,000Commerce, science and justiceFunding for urban industrial core and rural economic recovery programs.$250,000$150,000-$100,000Commerce, science and justiceExtra money for Census.$1,000,000$1,000,000$0Commerce, science and justiceSalaries and expenses for program to create broadband inventory map of the country.$350,000$350,000$0Commerce, science and justiceGrants to provide wireless and broadband infrastructure to communities, including public computer centers and sustainable adoption of broadband service, with half to go to rural communities.$8,975,000$6,650,000-$2,325,000Commerce, science and justiceCoupons, education and consumer support for digital to analogue converter box program.$650,000$650,000$0Commerce, science and justiceNIST research$100,000$118,000$18,000Commerce, science and justiceResearch into technology with high-growth potential.$70,000$0-$70,000Commerce, science and justiceGiving technology to small and mid-size manufacturers.$30,000$0-$30,000Commerce, science and justiceConstruction and renovation of research science facilities.$300,000$357,000$57,000Commerce, science and justiceExtra money for National Oceanic and Atmospheric Administration habitat restoration projects.$400,000$227,000-$173,000Commerce, science and justiceExtra money for NOAA satellite development including climate data sensors and modeling.$600,000$795,000$195,000Commerce, science and justiceRenovation and modernization of department building.$0$0$0Commerce, science and justiceCommerce spending oversight.$10,000$6,000-$4,000Commerce, science and justiceDevelopment of national integrated wireless network to support federal law enforcement.$0$100,000$100,000Commerce, science and justiceFunds for office supervising humane confinement of federal detainees.$0$100,000$100,000Commerce, science and justiceJustice spending oversight.$2,000$2,000$0Commerce, science and justiceExtra FBI agents to focus on crimes against children.$0$50,000$50,000Commerce, science and justiceConstruction at US Marshals Service$0$100,000$100,000Commerce, science and justiceExtra hires to target mortgage fraud.$0$75,000$75,000Commerce, science and justiceConstruction at FBI$0$300,000$300,000Commerce, science and justiceConstruction and renovation of federal prisons.$0$800,000$800,000Commerce, science and justiceGrants to state and local law enforcement.$3,000,000$1,050,000-$1,950,000Commerce, science and justiceGrants to state and local law enforcement at the Southern border.$0$100,000$100,000Commerce, science and justiceGrants to state and local law enforcement in rural areas.$0$150,000$150,000Commerce, science and justiceGrants for state and local law enforcement to hire extra police officers.$1,000,000$1,000,000$0Commerce, science and justiceGrants to state and local law enforcement for youth mentoring and improvements to justice system.$0$440,000$440,000Commerce, science and justiceGrants to tribal law enforcement.$0$300,000$300,000Commerce, science and justiceGrants to state and local law enforcement for domestic violence work.$0$300,000$300,000Commerce, science and justiceGrants to state and local law enforcement for victim programs.$0$100,000$100,000Commerce, science and justiceGrants to state and local law enforcement for Internet crimes against children.$0$50,000$50,000Commerce, science and justiceManagement grants to state and local law enforcement.$0$10,000$10,000Commerce, science and justiceNASA science research.$400,000$300,000-$100,000Commerce, science and justiceNASA aeronautics research.$150,000$250,000$100,000Commerce, science and justiceNASA shuttle replacement.$0$500,000$500,000Commerce, science and justiceNASA cross-agency construction.$50,000$250,000$200,000Commerce, science and justiceNASA spending oversight$2,000$2,000$0Commerce, science and justiceNational Science Foundation research.$2,500,000$1,000,000-$1,500,000Commerce, science and justiceConstruction of new research equipment and facilities for National Science Foundation.$400,000$150,000-$250,000Commerce, science and justiceNational Science Foundation education activities.$100,000$50,000-$50,000Commerce, science and justiceNSF spending oversight.$2,000$2,000$0DefenseModernizing military facilities and barracks, including energy efficiency.$4,500,000$2,984,000-$1,516,000DefenseHybrid vehicles for the Army, Navy, Air Force, Marine Corps$0$200,000$200,000DefenseProduction of long-life lithium ion batteries, suitable for spacecraft use.$0$100,000$100,000DefenseRapid Technology Transition and Demonstration of Energy Efficiency Technologies$350,000$200,000-$150,000DefenseExtra money for military healthcare.$0$250,000$250,000DefenseDefense spending oversight.$15,000$12,000-$3,000Energy and waterModernization of the electric grid.$4,400,000$4,400,000$0Energy and waterTraining of electric grid workers.$100,000$100,000$0Energy and waterLoan guarantees for electricity transmission$2,000,000$2,000,000$0Energy and waterEnergy spending oversight.$15,000$5,000-$10,000Energy and waterFlood control and water management construction.$4,500,000$4,600,000$100,000Energy and waterWater reclamation and reuse projects.$500,000$1,400,000$900,000Energy and waterHome weatherization grants to low-income families.$6,200,000$2,900,000-$3,300,000Energy and waterFunding for Energy Star program offering tax credits to consumers purchasing new, efficient appliances.$300,000$0-$300,000Energy and waterMoney for advanced batteries manufacturing.$2,000,000$2,000,000$0Energy and waterLoan guarantees for standard renewables$6,000,000$7,000,000$1,000,000Energy and waterFunding for zero emission powerplants (the only one in the country at the moment is FutureGen, in Illinois.)$0$2,000,000$2,000,000Energy and waterCarbon capture and sequestration demonstration projects.$2,400,000$2,600,000$200,000Energy and waterEnergy efficiency grants to states and local governments.$6,900,000$4,700,000-$2,200,000Energy and waterFunding for a new grant program to encourage electric vehicle technologies.$200,000$200,000$0Energy and waterFunding for states and local governments to buy efficient alternative fuel buses and trucks.$400,000$350,000-$50,000Energy and waterEnergy efficiency grants for municipal buildings.$1,000,000$1,600,000$600,000Energy and waterEnergy efficiency loans for municipal buildings.$500,000$0-$500,000Energy and waterResearch and development of renewable and efficient energy technology.$2,500,000$2,648,000$148,000Energy and waterNuclear cleanup at non-defense sites.$0$483,000$483,000Energy and waterUranium enrichment decontamination and decommissioning.$0$390,000$390,000Energy and waterFunding for physics laboratory construction and research in areas such as high-energy physics, nuclear physics and fusion energy sciences.$2,000,000$430,000-$1,570,000Energy and waterExtra money for weapons programs.$0$1,000,000$1,000,000Energy and waterCleanup of nuclear defense sites.$500,000$5,527,000$5,027,000Energy and waterMoney for federal power marketing administrations in electric power transmission systems.$6,490,000$6,490,000$0Energy and waterOperating expenses of federal power marketing administration.$0$20,000$20,000Federal governmentTreasury grants to community financial services and economic development groups.$0$250,000$250,000Federal governmentFunds for D.C.'s water and sewer infrastructure.$0$125,000$125,000Federal governmentConstruction, repair and energy alterations to federal buildings, ports and Department of Homeland Security.$7,700,000$5,548,000-$2,152,000Federal governmentNew plug-in and alternative fuel cars for federal government fleet.$600,000$300,000-$300,000Federal governmentGSA spending oversight.$15,000$2,000-$13,000Federal governmentFunding for board to oversee implementation of stimulus bill.$14,000$7,000-$7,000Federal governmentMicroloans to small businesses.$0$24,000$24,000Federal governmentSBA spending oversight.$0$15,000$15,000Federal governmentExtra administrative money for SBA.$4,000$25,000$21,000Federal governmentExtra oversight employees for SBA.$0$20,000$20,000Federal governmentExtra oversight spending money for SBA$10,000$10,000$0Federal governmentSBA surety bonds.$0$15,000$15,000Federal governmentMore money for business loans and reduction of loan fees.$426,000$531,000$105,000Food and farmingRepairs and security improvements at Department of Agriculture and agencies.$253,000$200,000-$53,000Food and farmingAgriculture spending oversight by Office of Inspector General.$22,500$5,000-$17,500Food and farmingExtra hires for rural development work.$0$80,000$80,000Food and farmingDirect loans to rural homeowners.$270,000$67,000-$203,000Food and farmingGuaranteed loans to rural homeowners.$230,000$133,000-$97,000Food and farmingDirect loans for rural community facilities$63,000$67,000$4,000Food and farmingGuaranteed loans for rural community facilities.$0$10,000$10,000Food and farmingGrants for rural community facilities.$137,000$50,000-$87,000Food and farmingGrants for rural businesses.$13,000$20,000$7,000Food and farmingGuaranteed loans for rural businesses.$87,000$130,000$43,000Food and farmingGrants and loan guarantees for biorefinery facilities.$0$200,000$200,000Food and farmingGrants and loan guarantees for renewable energy infrastructure in rural areas.$0$50,000$50,000Food and farmingCompetitive grants to Co-operative State Research, Education and Economic Service.$0$50,000$50,000Food and farmingDirect loans for rural waste and waste disposal $400,000$412,000$12,000Food and farmingRural waste and waste disposal program grants$1,100,000$963,000-$137,000Food and farmingLoans for distance learning and telemedicine in rural communities.$0$20,000$20,000Food and farmingGrants for distance learning and telemedicine in rural communities.$0$80,000$80,000Food and farmingReserve fund for Women, Infants and Children special supplemental nutrition program.$0$380,000$380,000Food and farmingImprovements to IT system for the Women, Infants and Children special supplemental nutrition program.$100,000$120,000$20,000Food and farmingExtra commodities and administration for emergency food assistance program.$150,000$150,000$0Food and farmingEquipment for school lunch program for at-risk children.$0$100,000$100,000Food and farmingFunds for meals and snacks for child and adult day care programs.$631,000$0-$631,000Food and farmingCrop insurance reinstatement for farmers who failed to keep up with payments, emergency loans and grants to farmers.$0$752,000$752,000Food and farmingSalaries for staff to modernize IT system at Farm Service Agency.$245,000$54,000-$191,000Food and farmingAdministration of extra aid to farmers.$0$34,000$34,000Food and farmingExtra money for food stamps$20,717,000$16,562,000-$4,155,000Food and farmingDirect loans to farm owners$0$17,200$17,200Food and farmingGuaranteed loans to farm owners$0$330$330Food and farmingOperating loans to farm owners.$0$23,600$23,600Food and farmingGuaranteed operating loans to farm owners$0$1,300$1,300Food and farmingFunding for watershed and flood prevention projects.$50,000$65,000$15,000Food and farmingRehabilitation of watershed structures.$350,000$275,000-$75,000Homeland securityFunding for departmental site security, IT infrastructure, furniture, fixtures and other costs for HQ.$0$198,000$198,000Homeland securityHomeland Security spending oversight.$2,000$5,000$3,000Homeland securityPurchase of tactical communications equipment and radios.$0$97,200$97,200Homeland securityImproving scanning detection technology at sea ports.$100,000$100,800$800Homeland securityBorder security technology on Southwest border.$0$200,000$200,000Homeland securityConstruction and repair of land border inspection facilities.$150,000$800,000$650,000Homeland securityTactical communications equipment and radios for ICE$0$27,800$27,800Homeland securityFunding for TSA explosive detection systems.$500,000$1,000,000$500,000Homeland securityShore facilities, new polar icebreaker, emergency maintenance of high endurance cutters.$0$450,000$450,000Homeland securityRepairing and removing bridges hazardous to marine navigation.$150,000$240,400$90,400Homeland securityCommunications response vehicles for use in a disaster or national security event.$0$6,000$6,000Homeland securityGrants for security upgrades to mass transit, ports, creation of emergency operations centers, upgrading of critical infrastructure.$0$950,000$950,000Homeland securityCompetitive grants to upgrade state and local fire stations.$0$500,000$500,000Homeland securityExtra emergency food and shelter funding for homeless.$200,000$100,000-$100,000Homeland securityUpgrades to Federal Law Enforcement Training Center facilities.$0$15,000$15,000Homeland securityHomeland Security research and development$0$0$0Labor, health, educationGrants to states for adult employment and training activities.$500,000$500,000$0Labor, health, educationGrants to states for youth training, including summer jobs.$1,200,000$1,200,000$0Labor, health, educationGrants to states for dislocated worker employment and training activities.$1,000,000$1,000,000$0Labor, health, educationGrants to states with highest unemployment numbers for employment and training.$750,000$200,000-$550,000Labor, health, educationFunds to national reserve assistance for dislocated workers.$500,000$250,000-$250,000Labor, health, educationFunding for program training high-risk youth in construction job skills.$50,000$100,000$50,000Labor, health, educationFunding for community service program for low-income over-55s.$120,000$120,000$0Labor, health, educationFunding for states' unemployment insurance and employment service agencies.$500,000$400,000-$100,000Labor, health, educationExtra funds for department to manage enforcement of labor laws.$80,000$0-$80,000Labor, health, educationCreation and renovation of Office of Job Corps.$300,000$160,000-$140,000Labor, health, educationLabor spending oversight.$6,000$3,000-$3,000Labor, health, educationGrants to community health centers$500,000$0-$500,000Labor, health, educationRenovation and repair of community health centers$1,000,000$1,870,000$870,000Labor, health, educationTraining of nurses, primary care physicians, dentists to practice in underserved communities in the National Health Service Corps.$600,000$0-$600,000Labor, health, educationFit-out for Public Health Service agency building.$88,000$88,000$0Labor, health, educationHHS spending oversight.$19,000$0$0Labor, health, educationCDC and NIOSH construction and renovations.$462,000$412,000-$50,000Labor, health, educationGrants for National Institutes of Health to renovate university research facilities.$1,500,000$300,000-$1,200,000Labor, health, educationNIH biomedical research into diseases such as Alzheimer's, Parkinson's, cancer and heart disease.$1,500,000$2,700,000$1,200,000Labor, health, educationRepairs and improvements to NIH facilities.$500,000$500,000$0Labor, health, educationAdditional money to the National Institutes of Health for biomedical research.$0$6,500,000$6,500,000Labor, health, educationFunding for research comparing effectiveness of treatments funded by Medicare, Medicaid and SCHIP.$1,100,000$1,100,000$0Labor, health, educationMoney to help low-income families pay for home heating and cooling.$1,000,000$0-$1,000,000Labor, health, educationMoney for extra child care services for low-income families.$2,000,000$2,000,000$0Labor, health, educationGrants to state social services and non-profits serving low-income and unemployed people suffering from the recession$0$400,000$400,000Labor, health, educationExtra money for Head Start programs for low-income pre-schoolers, infants and toddlers.$2,100,000$1,050,000-$1,050,000Labor, health, educationGrants to faith-based and community organizations$100,000$0-$100,000Labor, health, educationGrants for community employment, food, housing and healthcare projects.$1,000,000$200,000-$800,000Labor, health, educationGrants for elderly nutrition services including Meals on Wheels$200,000$100,000-$100,000Labor, health, educationExtra money for Office of the National Coordinator for Health Information Technology.$2,000,000$3,000,000$1,000,000Labor, health, educationFunding for: National Vaccine Program, National Vaccine Injury Compensation Program, chronic disease, health promotion, genomics programs, HIV/AIDS, hepatitis, STD and TB prevention programs, environmental health programs, injury prevention and control programs, public health workforce development programs, research by National Institute for Occupational Safety and Health and National Center for Health Statistics, national plan to prevent healthcare-associated infections, prevention and wellness strategies and public health workforce developments.$3,000,000$0-$3,000,000Labor, health, educationFunding for advanced resarch on preparing for pandemic influenza, countermeasures for chemical, biological, radiological and nuclear threats.$900,000$0-$900,000Labor, health, educationFunding for 'Title I' education programs for disadvantaged children.$13,000,000$12,400,000-$600,000Labor, health, educationConstruction funding for school districts without a local property-tax base.$100,000$0-$100,000Labor, health, educationFunding for school computer and science laboratories and technology training for teachers.$1,000,000$1,000,000$0Labor, health, educationFunding for services to homeless children including meals and transportation.$66,000$70,000$4,000Labor, health, educationSchool renovations.$14,000,000$0-$14,000,000Labor, health, educationCharter school renovations.$25,000$0-$25,000Labor, health, educationGrants for teacher training and professional development.$200,000$0-$200,000Labor, health, educationSpecial education funding.$13,600,000$13,500,000-$100,000Labor, health, educationIndependent living centers and state grants for the disabled and services for elderly blind people.$200,000$610,000$410,000Labor, health, educationMoney to increase maximum Pell Grant of student aid by $500 to to $5,350.$15,636,000$13,869,000-$1,767,000Labor, health, educationMoney to increase size of colleges' Perkins Grant student aid funds.$0$61,000$61,000Labor, health, educationMoney for colleges' work-study programs.$490,000$0-$490,000Labor, health, educationMoney to cover cost to Department of Education of administering extra student aid.$50,000$0-$50,000Labor, health, educationGrants for states to address teacher shortages.$100,000$50,000-$50,000Labor, health, educationCollege renovations$6,000,000$0-$6,000,000Labor, health, educationFunding for grants for states to create systems tracking individual student data.$250,000$0-$250,000Labor, health, educationEducation spending oversight.$15,000$4,000-$11,000Labor, health, educationExtra money for AmeriCorps programs.$200,000$200,000$0Labor, health, educationExtra money for oversight of AmeriCorps programs$1,000$0$0Labor, health, educationConstruction of new National Computer Center for Social Security Administration.$400,000$750,000$350,000Labor, health, educationExtra money for Social Security Administration to process disability and retirement claim backlogs.$500,000$140,000-$360,000Labor, health, educationSSA spending oversight.$2,000$3,000$1,000Military and veteransArmy training and recruit troop housing, and child development centers, including energy efficiency renovations.$920,000$676,377-$243,623Military and veteransNavy and Marine Corps training and recruit troop housing, and child development centers, including energy efficiency renovations.$350,000$990,092$640,092Military and veteransAir Force training and recruit troop housing, and child development centers, including energy efficiency renovations.$280,000$967,893$687,893Military and veteransConstruction on military hospitals and ambulatory surgery centers, including energy efficiency renovations.$3,750,000$118,560-$3,631,440Military and veteransArmy National Guard construction.$140,000$150,000$10,000Military and veteransAir National Guard construction.$70,000$110,000$40,000Military and veteransArmy Reserve construction.$100,000$0-$100,000Military and veteransNavy Reserve construction.$30,000$0-$30,000Military and veteransAir Force Reserve construction.$60,000$0-$60,000Military and veteransExpansion of financial aid to military and some civilian personnel in areas where property values have declined after a base closure.$0$410,973$410,973Military and veteransExtra funding for cleanup at closed military installations.$300,000$0-$300,000Military and veteransImprovements to VA benefits administration, IT and claims processing.$0$195,000$195,000Military and veteransRenovations and energy efficiency improvements to veterans medical facilities.$950,000$3,415,628$2,465,628Military and veteransMonument and memorial repairs at veterans cemeteries.$50,000$64,961$14,961Military and veteransGrants for construction and repairs of state veteran care homes.$0$257,986$257,986Military and veteransExtra money for Veterans Affairs operating expenses, medical support and compliance.$0$5,125$5,125Military and veteransVeterans Affairs spending oversight.$1,000$4,400$3,400Military and veteransRepairs to national cemeteries and monuments$0$60,300$60,300OutdoorsDeferred maintenance on federal lands, abandoned mine cleanup, energy efficient visitors centers, wildland fire management.$325,000$330,000$5,000OutdoorsWildlife refuge and fish hatchery construction, deferred maintenance, road maintenance and energy efficient visitors centers.$300,000$275,000-$25,000OutdoorsNational Park System deferred maintenance.$1,700,000$747,000-$953,000OutdoorsNational Mall returfing.$200,000$0-$200,000OutdoorsNational Park Service "Centennial Challenge"$100,000$0-$100,000OutdoorsRepairing facilities and equipment for USGS' seismic, volcano, monitoring and stream gages.$200,000$135,000-$65,000OutdoorsRepair of schools, detention centers, roads, bridges, housing, irrigation and dams on Indian reservations.$500,000$562,000$62,000OutdoorsIndian Guaranteed Loan Program$15,000$10,000-$5,000OutdoorsAssistance to U.S. territories: American Samoa, Guam, Northern Mariana Islands, U.S. Virgin Islands, Marshall Islands, Federated States of Micronesia, Palau. $0$62,000$62,000OutdoorsInterior spending oversight.$0$7,600$7,600OutdoorsCleanup of landfills, mine tailings, mills, illegal dumps and pesticide release sites.$0$20,000$20,000OutdoorsExtra money for Department of Interior's "working capital fund."$0$0$0OutdoorsCleanup of hazardous and toxic waste sites.$800,000$600,000-$200,000OutdoorsCleanup of petroleum leaks from underground storage tanks.$200,000$200,000$0OutdoorsLoans for communities to upgrade wastewater treatment systems and drinking water infrastructure.$8,400,000$6,400,000-$2,000,000OutdoorsEPA spending oversight.$20,000$0-$20,000OutdoorsRenovation of forest roads, bridges and trails, remediation of abandoned mines, removal of barriers to fish and other critical habitat.$650,000$650,000$0OutdoorsFire hazard reduction on federal and state lands.$850,000$485,000-$365,000OutdoorsIndian Health Facilities renovation and IT purchases.$550,000$545,000-$5,000OutdoorsSmithsonian deferred maintenance.$150,000$75,000-$75,000OutdoorsGrants to fund arts projects in non-profit sector.$50,000$0-$50,000OversightGAO oversight of stimulus bill.$25,000$20,000-$5,000State DepartmentMoney for diplomatic and consular programs.$0$90,000$90,000State DepartmentCreation of information management backup facility for State Department, funding for participation in cybersecurity program.$276,000$228,000-$48,000State DepartmentState Department spending oversight.$0$2,000$2,000State DepartmentRepair to flood control systems along Rio Grande damaged by Hurricane Katrina.$224,000$224,000$0State DepartmentExtra money for USAID capital investments overseas.$0$58,000$58,000Tax cuts$500 credit for single taxpayers, $1000 for couples. House bill phases out at $75,000 for individuals, $150,000 for couples. Senate phases out at $70,000 and $140,000 respectively.$145,309,000$139,800,000-$5,509,000Tax cutsIncreasing earned income tax credit from 40% to 45% of first $12,570 earned by families with more than three children$4,663,000$4,663,000$0Tax cutsIncreasing eligibility for refundable portion of child tax credit. House bill lowers income threshold to $0, House to $8100.$18,272,000$7,200,000-$11,072,000Tax cutsEducation tax credit: $2500 for tuition and books expenses. House version is 40% refundable up to $1000, Senate version is 30% refundable up to $750.$13,707,000$12,900,000-$807,000Tax cutsHouse version offers a refundable credit for 10% of purchase of home, up to $7500, for first-time homeowners buying between April 9, 2008 and July 1, 2009. The Senate version expands the credit to $15,000 and applies it to all home purchases. The Senate version of the credit can only be claimed by buyers who owe income taxes.$2,562,000$35,500,000$32,938,000Tax cutsAllowing computers to qualify for inclusion in tax-advantaged savings education plans.$0$6,000,000$6,000,000Tax cutsEqualization of parking and transit tax-free employer benefits at $230 for 2009.$0$192,000$192,000Tax cutsTax break on loan interest and sales taxes for new car purchases.$0$11,000,000$11,000,000Tax cutsTemporary renewal of exemption for middle-income taxpayers from alternative minimum tax for 2009.$0$70,000,000$70,000,000Tax cutsTemporary suspension of tax on first $2400 of unemployment benefits.$0$4,700,000$4,700,000Tax cutsExtension of tax credit to wind energy facilities placed in service before end of 2013$13,143,000$13,143,000$0Tax cutsAllowing renewable energy projects to claim investment tax credit instead of production tax credit$218,000$218,000$0Tax cutsRemoval of cap on investment tax credit for small wind property.$872,000$604,000-$268,000Tax cutsCreation of $16 billion extra clean renewable energy bonds$578,000$578,000$0Tax cutsCreation of extra $24 billion of bonds for state and local government programs to reduce greenhouse gas emissions$803,000$803,000$0Tax cutsIncreasing tax credits for home energy efficiency equipment to 30%, up to total of $1500$4,275,000$1,900,000-$2,375,000Tax cutsIncreasing tax credits for gas stations installing alternative fuel pumps to 50%, up to $50,000$54,000$54,000$0Tax cuts20% tax credit for renewable energy research in 2009 and 2010$18,000$18,000$0Tax cutsRemoval of $2000 cap on 30% credit for solar thermal and geothermal property, and $4000 cap on small wind property$0$268,000$268,000Tax cuts10% tax credit for bicycles and other low-speed vehicles$0$118,000$118,000Tax cutsReducing depreciation schedule for smart meters$0$22,000$22,000Tax cutsIncreasing monitoring and verification for CO2 capture and sequestration tax credits$0$0$0Tax cuts30% investment tax credit for facilities manufacturing advanced energy property$0$1,400,000$1,400,000Tax cutsExtending bonus depreciation for businesses to 50% write-off for capital expenditures made in 2009 $5,074,000$5,300,000$226,000Tax cutsWrite-off for small businesses for up to $250,000 of capital expenditures incurred in 2009$41,000$41,000$0Tax cutsExtending carryback of net operating losses for 2008 and 2009 from 2 years to 5 years -- except for companies receiving government bailout funds$15,041,000$17,200,000$2,159,000Tax cutsAllowing businesses to carryback business energy tax attributes from one tax period to another$0$0$0Tax cutsTax credit of 40% for first $6000 of wages for each new unemployed veteran or 16-25-year-old hired. House version includes veterans discharged between 2008 and 2010, Senate version includes veterans discharged between 2001 and 2010.$208,000$320,000$112,000Tax cutsRestoration of tougher rules on taxpayers claiming losses incurred by a company before they bought it-$6,977,000-$6,977,000$0Tax cutsAllowing some businesses to to claim tax exemption for specific kinds of business debt repurchased in cash in 2009 and 2010.$0$813,000$813,000Tax cutsMonetization in lieu of credits for alternative minimum taxpayers and loss taxpayers in 2009.$0$805,000$805,000Tax cutsAllowing individuals to exempt up to 75% of some small business stock sales held for more than five years.$0$829,000$829,000Tax cutsTemporarily shortening holding period of assets subject to built-in gains tax, from 10 years to seven.$0$415,000$415,000Tax cutsAccelerates claims for tax credits for low-income housing investment.$0$2,000,000$2,000,000Tax cutsChange in eligibility for industrial development bonds$0$203,000$203,000Tax cutsPlug-in manufacturing and retooling incentive$0NaNNaNTax cutsCreation of tax credit bonds for 2009 and 2010 investment in 'economic recovery zones' ($25 billion in House version, $15 billion in Senate version).$5,989,000$2,900,000-$3,089,000Tax cutsAllows tribal governments to issue $2 billion in tax-exempt bonds for projects without previous restrictions.$315,000$315,000$0Tax cutsWidens qualification for high-speed intercity rail bonds to facilities with a top speed of 150 miles per hour or more.$0$288,000$288,000Tax cutsIncrease in funds allocated as part of "new markets tax credit"$0$1,050,000$1,050,000Tax cutsTiered investment tax credit for broadband infrastructure investment.$0$110,000$110,000Tax cutsRule changes to improve marketability of tax exempt bonds.$3,700,000$3,700,000$0Tax cutsNew tax credit bonds for school building, rehabilitation or repair and other infrastructure projects.$9,877,000$4,500,000-$5,377,000Tax cutsExtra authority for state and local governments to issue bonds in 2009 and 2010 to schools working with businesses$1,045,000$1,000,000-$45,000Tax cutsDirect payment to state and local governments to replace federal tax credit subsidy for bonds issued in 2009 and 2010$18,270,000$4,800,000-$13,470,000Tax cutsHouse version repeals 3% withholding on government contractors. Senate version delays implementation by one year.$10,946,000$291,000-$10,655,000Tax cutsHouse version makes a one-time payment of $300 to supplementary security income beneficiaries. Senate version also gives payment to social security beneficiaries, disabled people, railroad retirees and disabled veterans who receive benefits.$4,200,000$16,700,000$12,500,000Tax cutsTwo-year extension of program providing income support and training benefits for workers who lose their jobs because of outsourcing overseas.$0$108,000$108,000Tax cutsProhibiting Customs and Border Protection from demanding that U.S. lumber, steel and other companies repay money they were given from Canadian and Mexican import duties.$0$90,000$90,000Tax cutsCurbs to executive compensation at companies receiving financial assistance: The government will raise $3.2 billion from a requirement for participants who paid big bonuses to buy back an equivalent amount of government-held stock. However, the CBO has assessed a net revenue loss because previously taxable compensation will remain within the company, which is not assumed to generate a taxable profit.$0$10,847,000$10,847,000Transportation and housingGrants for airport improvements$3,000,000$1,100,000-$1,900,000Transportation and housingGrants for airport facilities and equipment.$0$200,000$200,000Transportation and housingGrants for highway improvements$30,000,000$27,060,000-$2,940,000Transportation and housingCompetitive grants to state and local governments for highway, transit, rail, or port transportation investments.$0$5,500,000$5,500,000Transportation and housingGrants to Amtrak$800,000$850,000$50,000Transportation and housingGrants to states for investments in high speed and intercity passenger rail$300,000$250,000-$50,000Transportation and housingGrants for capital investments in designated high-speed rail corridors.$0$2,000,000$2,000,000Transportation and housingExtra grants to states for public transit infrastructure investment.$6,000,000$8,400,000$2,400,000Transportation and housingRail modernization funding.$2,000,000$0-$2,000,000Transportation and housingGrants for new commuter rail and other light rail systems.$1,000,000$0-$1,000,000Transportation and housingGrants for investments and improvements to small domestic shipyards.$0$100,000$100,000Transportation and housingTransportation spending oversight.$20,000$7,750-$12,250Transportation and housingRepairs and modernization of public housing projects.$5,000,000$5,000,000$0Transportation and housingGrants to rehabilitate and improve energy efficiency on Native American housing programs.$500,000$510,000$10,000Transportation and housingGrants for community and economic development projects.$1,000,000$0-$1,000,000Transportation and housingGrants for short-term help with rent and housing relocation for homeless families.$1,500,000$1,500,000$0Transportation and housingEnergy efficiency retrogrades to low-income housing, including new insulation, windows and furnaces.$2,500,000$2,250,000-$250,000Transportation and housingFunds for communities to buy and rehabilitate foreclosed and vacant properties.$4,190,000$0-$4,190,000Transportation and housingFunds for building and rehabilitating low-income housing using green technology.$1,500,000$2,250,000$750,000Transportation and housingGrants for removing lead-based paint in low-income housing.$100,000$100,000$0Transportation and housingFunds for rural building projects.$10,000$0-$10,000Transportation and housingHUD spending oversight.$15,000$2,750 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download