Breakdown of Obama’s Stimulus Package

The stimulus and payouts for consumers (tax credits and cuts) are just one piece of Obama’s revival plan and are in truth more of a short term instrument to get the economy back up again. For the longer term, however, the aim is to generate jobs – around three million – and improve the nation’s road and rail network as well as facilities to the twenty first century. Below you will find some of the most important elements of the stimulus plan for economic recovery:

To boost the capacity of energy able to be generated from renewable resources to twice its current level in three years. However, some may see this as a somewhat ambitious goal, seeing that it was thirty years before we reached our current capacity for renewables. Estimates claim that this level of renewable energy would be sufficient to supply power to six million homes.

To transmit and carry this energy to homes, the stimulus plan includes an aim to construct over three thousand miles of new transmission line.

With regards to energy efficiency, the goal is to make seventy five percent of all federal buildings more energy efficient, thereby saving around two billion dollars a year on tax. At the same time, Obama’s stimulus package aims to reduce the energy bill of an average household by over three hundred dollars with improvements to homes such as insulation.

The stimulus package has aimed to spend as a minimum seventy five percent of the entire cost, i.e. over six hundred billion, in the first eighteen months of its application.

For tips and facts about how you can benefit from Obama’s Home Stimulus Plan – or to find out if you qualify for the first time home buyer tax credit of up to $8000, please visit: http://firsttimehomebuyerstimulus.net

Article Source:http://www.articlesbase.com/politics-articles/breakdown-of-obamas-stimulus-package-1513561.html

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