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Details of the House's version of the $825 bln economic stimulus package have been trickling out throughout the day.
Reuters.com summarized some of the key points as follows:
HIGHWAYS, RAIL, TRANSPORTATION: $30 billion for highway construction; $31 billion to modernize federal and other public infrastructure with investments that lead to long-term energy cost savings; $19 billion for clean water, flood control, and environmental restoration investments; $10 billion for transit and rail to reduce traffic congestion and gas consumption; $3 billion for airport improvement projects to improve safety and reduce congestion; $1.1 billion to improve speed, capacity of intercity passenger rail service; $6 billion to buy buses and equipment for public transportation; $2 billion to modernize existing transit systems; $1 billion for grants for new commuter rail projects.
STATES, EDUCATION: $79 billion in state fiscal relief to prevent cuts to key services; $39 billion to local school districts, public colleges and universities distributed through existing state and federal formulas; $15.6 billion to increase Pell grants for college students; $6 billion for higher education modernization. ENERGY: $11 billion for research and development, pilot projects, and federal matching funds to modernize electricity grid; $8 billion for loans for renewable energy power generation and transmission projects; $6.7 billion for renovations and repairs to federal buildings; $2 billion for the Advanced Battery Loan Guarantee and Grants Program, to support U.S. manufacturers of advanced vehicle batteries; $2.4 billion for carbon capture and sequestration technology demonstration projects.
HEALTH CARE: $87 billion to states, increasing through the end of FY 2010 the share of Medicaid costs the Federal government reimburses all states by 4.8%, with extra relief tied to rates of unemployment; $30.3 billion to extend health insurance coverage to unemployed beyond 18 months provided under current law; $3 billion to fight preventable chronic diseases, the leading cause of deaths in the United States, and infectious diseases; $3.75 billion for new construction of hospitals and ambulatory surgical centers; $4.1 billion to provide for preventative care and to evaluate the most effective healthcare treatments.
BROADBAND, TECHNOLOGY: $6 billion to expand broadband Internet access for businesses in rural underserved areas; $20 billion for health information technology to prevent medical mistakes, provide better care to patients and introduce cost-saving efficiencies; $400 million for the Social Security Administration to replace its computer center; $245 million for the Farm Service Agency to upgrade its IT to handle workload increases; $276 million for the State Department to upgrade its technology platforms to meet stricter security needs. HOUSING: $4.2 billion to help communities buy, rehabilitate foreclosed, vacant properties to create affordable housing; $1.5 billion to help local communities build and rehabilitate low-income housing using green technologies; $5 billion for public housing repair and modernization, including critical safety repairs; $6.2 billion to help low-income families reduce their energy costs by weatherizing their homes.
UNEMPLOYMENT BENEFITS: $27 billion to continue the unemployment benefits program, providing up to 33 weeks of extended benefits through Dec 31, 2009; $4 billion for job training including formula grants for adult, dislocated worker, and youth services.
ENVIRONMENT: $800 million to clean up hazardous and toxic waste sites that threaten health and the environment.
WATER RESOURCES: $4.5 billion for environmental restoration, flood protection, hydropower, and navigation infrastructure; $6 billion for loans to help communities upgrade wastewater treatment systems; $2 billion for loans for drinking water infrastructure.
MISCELLANEOUS: $10 billion for science facilities, research, and instrumentation; $3.1 billion for projects on federal lands such as visitor facilities, trail restoration, preservation of historic buildings, rehabilitation of abandoned mines and oil fields; $2.1 billion in repairs to military facilities; $1.2 billion for new construction and $154 million for renovations to improve military housing; $650 million for extending a coupon program to help Americans convert the TV sets to receive digital transmission; $430 million for new direct lending and loan guarantee authorities for small businesses to make loans more attractive to lenders and free up capital; $100 million for rural business grants and loans to guarantee $2 billion in loans for rural businesses.
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