Some details on the $155 Billion House Stimulus Bill

The House of Representatives just passed another Stimulus bill of which $75 billion from TARP will be used to pay for it's $155 billion dollar price tag.

Buy American made it into the bill with:

The 119-page measure contains proposals from lawmakers including Democratic Representative Daniel Lipinski of Illinois requiring federal agencies to publish requests for waivers on their Web sites. Waivers that are granted must contain a detailed rationale with an analysis of the impact of the waiver on U.S. factory jobs, the legislation says.

No doubt the lobbyists will be all over this one, making sure Stimulus stimulates other national economies.

Some of what's in it by AP:

  • $36 billion for highways and mass transit.
  • $20 billion to keep Highway Trust Fund solvent for existing obligations.
  • $23 billion to pay teacher salaries in an attempt to save or create about 250,000 education jobs.
  • $2 billion for job training, summer jobs for teenagers and for AmeriCorps.
  • $500 million to retain or hire firefighters.
  • $1.2 billion to put 5,500 law enforcement officials on the beat.
  • $2.3 billion to extend the $1,000-per-child tax credit to 16 million poor families.
  • $24 billion to states for Medicaid for the poor and disabled.
  • $41 billion to extend emergency unemployment benefits for six months.
  • $12.3 billion for health insurance subsidies for long-term jobless workers.
  • $600 million for improvements to airports and seaports.
  • $2.8 billion for water projects.
  • $2 billion for housing renovations.

See a lot jobs that aren't associated with a powerful union yet?

Still there is about $56 billion here for shovel ready projects so that should help some.

A further breakdown is $800 million for Amtrak and $500 million for airport construction.

There is also no small business hiring credit. But also the infamous Cash for Caulkers, stimulating China one tube at a time, was missing from the bill.

One thing one must say, like it or not, the House at least passes stuff. The Senate just seems busy blocking stuff.

The House also raised the debt ceiling by $290 Billion to a new high of $12.394 trillion, the 4th in 18 months.

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