H.R. 1 - American Recovery and Reinvestment Act

American Recovery and Reinvestment Act

The House of Representatives will be considering an $825 billion economic recovery package Tuesday and Wednesday, with a vote expected Wednesday afternoon or evening.

(H.R.1) Among other things, the package aims to:
• Double within three years the amount of energy that could be produced from renewable resources
• Upgrade 10,000 schools and improve learning for about 5 million students
• Save $2 billion a year by making federal buildings energy efficient
• Triple the number of undergraduate and graduate fellowships in science

Spending highlights:
• $20 billion or more in renewable energy tax cuts and a tax credits
• $92 billion for infrastructure projects
• $43 billion to provide extended unemployment benefits through Dec. 31
• $159 billion towards education and state fiscal relief to prevent cuts in state aid
• $154.5 billion towards health care, including aid to states for Medicare costs and funding to subsidize health care insurance for the unemployed
• $140 billion for individual tax breaks

Click here for more detailed spending information

Click here to read the Democrat’s view of the package (PDF)

Click here to read the Republican’s view of the package

Should Congress pass H.R.1?

We encourage you to let your representatives know how you feel on this very important issue.

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How far will they go: Massive Economic Stimulus plans in Washington DC?

The Monday, January 5, 2009 edition of the Washington Times features an article, Dems pursue ambitious agenda on Hill. For more on public policy solutions for Congress, read the Institute Brief: Ryan's roadmap from the Public Interest Institute.

The April 21, 2008, edition of U.S. News & World Report featured a cover
story titled, "Big Government: It’s back — no matter who wins. Americans want
Uncle Sam to solve their problems…" The Monday, May 19, 2008, edition of USA
Today featured a headline, "Bill for taxpayers swells by trillions: Deficit far
bigger than government estimate."

Fast forward to January 5, 2009.

• RedState Why the Obama Stimulus Will Fail, Chapter 217 http://tinyurl.com/7nxbx7
• WSJ Frugal Families Aggravate Nation's Economic Woes http://tinyurl.com/9ov5xb
• USATODAY Gas prices rise for the first time in 16 weeks http://tinyurl.com/7ejbaj
• techRepublican Proposed Stimulus Plan Could Embrace Better Transparency in Spending http://twurl.nl/b3x5el
• WSJ A Happy Lesson on Lending http://tinyurl.com/8x6dyk
• nytimes Obama Pushes for Stimulus on Capitol Hill http://tinyurl.com/8rghdv

Happy New Year... the 111Th Congress is getting ready to rock and roll in Washington DC.

cidsports

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What will the 111th Congress do or shouldn't do on Taxes?

A recent article comes from the National Taxpayer Union website and addresses potential tax hikes in 2009. Nation's Largest Taxpayer Group Warns of Unwanted New Year's Greetings: 10 Tax Hikes in the 111th Congress For more on the issue of taxes and spending by in Iowa, read Public Interest Institute Brief titled No Income Tax: The Key to Economic Growth.

'Tis the season, to discuss and forecast future Tax Policy? Merry Christmas to all!

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The 111th Congress from the State of Iowa

State of Iowa

Senators for the State of Iowa
Grassley, Charles [R]
Harkin, Thomas [D]

House Members for the State of Iowa

IA-1
Braley, Bruce [D]
IA-2
Loebsack, David [D]
IA-3
Boswell, Leonard [D]
IA-4
Latham, Thomas [R]
IA-5
King, Steve [R]

http://twitter.com/cidsports

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