Here are the five stated purposes of the bill:
“(1) To preserve and create jobs and promote economic recovery.
(2) To assist those most impacted by the recession.
(3) To provide investments needed to increase economic efficiency by spurring technological advances in science and health.
(4) To invest in transportation, environmental protection, and other infrastructure that will provide long-term economic benefits.
(5) To stabilize State and local government budgets, in order to minimize and avoid reductions in essential services and counterproductive state and local tax increases.”
What’s the VERY first thing the bill does? Lays out near $225,000,000 to FEDERAL government agencies for oversight and management of the plan. Swell.
I love this..
“None of the funds appropriated or otherwise made available in this Act may be used for any casino or other gambling establishment, aquarium, zoo, golf course, or swimming pool.”
Somebody planning a big renovation?
Onto serious things…the bill attempts to make use all projects funded by this bill use American made iron and steel. Don’t have a problem with that at all…but, of course, there’s loopholes..
“(1) applying subsection (a) would be inconsistent with the public interest;
(2) iron and steel are not produced in the United States in sufficient and reasonably available quantities and of a satisfactory quality; or
(3) inclusion of iron and steel produced in the United States will increase the cost of the overall project by more than 25 percent.”
Good luck there. It’s also interesting to see the Federal Government trying to blackmail the State of Illinois..
“None of the funds provided by this Act may be made available to the State of Illinois, or any agency of the
State, unless …(2) Rod R. Blagojevich no longer holds the office of Governor of the State of Illinois. “
I’m not making this up…it’s in there.
Here’s a neat idea. Of the funds given to the FEDERAL Department of Agriculture 10% have to be spent in “persistent poverty counties”. That should be good with all those small towns across American being decimated. But..uh-oh…here’s the catch Let’s define “persistent poverty counties…
“any county that has had 20 percent or more of its population living in poverty over the past 30 years“
Seems to me we had an economic boom (however false it was) within that time span….
Let’s take a breather here….this is all in the first 20 pages…there are 647 pages to this bill…
There certainly are new jobs being created here. Why there’s a whole Board of Directors assigned to assist the Chief Perfomance Officer of The President. Not to mention and Independent Advisory Board to advise…umm…the other Board. I wonder how many displaced auto and DHL workers will be in line for those positions?
There’s a lot in here about government bonds. Like this clearcut statement…
‘‘(a) IN GENERAL.-If a taxpayer holds a taxable governmental bond on one or more interest payment dates of the bond during any taxable year, there shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to the sum of the credits determined under subsection (b) with respect to such dates.”
Yeah. Sure. As one would expect, there is cash and credits for the energy companies aplenty in this bill. To be fair there are tax credits of the individual taxpayer as well (limit $1,500 per person…) Jesus…even gas staions can get a break…
“SEC. 1623. TEMPORARY INCREASE IN CREDIT FOR ALTERNATIVE FUEL VEHICLE REFUELING PROPERTY.”
There are funds, instead of credits, avaialble for construction of low income housing….get out your calculators…
the term ‘‘low income housing grant election amount” means, with respect to any State, such amount as the State may elect which does not exceed 85 percent of the product of-
(1) the sum of-
(A) 100 percent of the State housing credit ceiling for 2009 which is attributable to amounts described in clauses (i) and (iii) of section 42(h)(3)(C) of the Internal Revenue Code of 1986, and
(B) 40 percent of the State housing credit ceiling for 2009 which is attributable to amounts described in clauses (ii) and (iv) of such section, multiplied by
Yes. “10” has it’s own section number. It must be very proud.
OK. Here we go. Page 335…‘‘Assistance for Unemployed Workers and Struggling Families Act”.
Hmmm…let’s see…well you can gat an additional $15 a week per dependent in unemployment comp…if you and your state qualify for the funds. Not to mention additional UC funds..as determined by the State (somehow)..plus an extra $25. States can apply for funds (7 billion times some unfathomable formula) over the next three years so they can “modernize unemployment compensation”. Whatever that means.
Then there is the Assistance for Vulnerable Individuals Fund
Then there’s emergency payments to SSI Recipients
Then there’s the Health Insurance Assistance for the Unemployed.
Then there’s premium assistance for COBRA payments (the provisions for which go on for about 50 pages)
Then there’s optional medicaid coverage for the unemployed
Can anyone tell me where all this money is coming from??? (Don’t bother…my wallet is already seizing up)
And, no…we’re not done yet…time for a little levity…
The ‘‘Health Information Technology for Economic and Clinical Health Act” or the ‘‘HITECH Act”. What a bunch of cleaver dicks. You may well ask, what is the HITECH Act all about. Yes you may.
“The term ‘enterprise integration’ means the electronic linkage of health care providers, health plans, the government, and other interested parties, to enable the electronic exchange and use of health information among all the components in the health care infrastructure in accordance with applicable law, and such term includes related application protocols and other related standards.‘‘
It means the government (and just about anyone else from what I can tell) wants an internet hookup to all your medical records. Your complete medical history is now, essentially, public domain.
Then, finally (whew), something about a governmental agency working with all the IT service providers to provide broadband to every household and a chicken in every pot. No problem there. I’m sure it’s just an oversight for the public good kind of thing…
Oh, BTW, that’s just the House version…I haven’t even looked at the Senate version yet….