The Stimulus: What's In It For You?

There's been a lot of talk and build up of this stimulus package. What is it exactly? A combination of tax breaks, direct aid to the needy, and spending on various projects that will hopefully spawn job creation. In total, $787 Billion dollars will be signed into law today by President Obama. All tax breaks and benefits become effective immediately.

What's it in for the American people? Here's a quick breakdown of how you may benefit.


1. The unemployed may continue to see their benefits continue.
2. An extension or improvement in COBRA benefits, allowing for the continuation of health coverage after a layoff.
3. A Tax credit to individuals of $400, or $800 for couples filing jointly for 2009-2010.
4. AMT relief, with the exemption raised to $46,700 for individuals and $70,950 for couples.
5. First time home buyers receive a 10% tax credit on the purchase of a new home in 2009, up to $8000.
6. Plug in hybrid vehicle buyers will receive a $7500 tax credit.
7. Financial incentive to weatherize your home ( details coming soon).

Good news for power programs and the environment: there is lots of spending and tax breaks for energy investments and the promotion of energy efficiency and renewable energy sources. Finally, a nod towards green!

All in all, a nice big package that hopefully has enough punch to jump start progress towards the future. Take full advantage of all these benefits and support the promotion of clean green technologies!