Why it’s necessary to keep our voices heard in Washington D.C. and in Carson City!

Why Tea Party?

Some reason’s we are tea partying in Carson City on Tax Freedom DayWhen House members approved the $700 billion financial-industry bailout bill, they also voted to approve dozens of so-called “tax extenders.” Fiscal watchdogs have another word for these “tax extenders”–pork.The current administration believes you should pay for special interest projects.451-page Senate bailout bill, called H.R. 1424From “Taxpayers for Common Sense”:

  1. Sec. 503. Exemption from excise tax for certain wooden arrows designed for use by children Current law places an excise tax of 39 cents on the first sale by the manufacturer, producer, or importer of any shaft of a type used to produce certain types of arrows. This proposal would exempt from the excise tax any shaft consisting of all natural wood with no laminations or artificial means to enhance the spine of the shaft used in the manufacture of an arrow that measures 5/16 of an inch or less and is unsuited for use with a bow with a peak draw weight of 30 pounds or more. The proposal is effective for shafts first sold after the date of enactment. The estimated cost of the proposal is $2 million over ten years, according to the Joint Committee on Taxation. The Oregon senators were the initial sponsors of the provisions. According to Bloomberg News, the provision would be worth $200,000 to Rose City Archery in Myrtle Point, Oregon.
  2. Sec. 317. Seven-year cost recovery period for motorsports racing track facilityTrack owners want to be able write-off the cost of their facilities on their taxes over seven years – a depreciation timetable many of them have used for decades. But the IRS has wanted to stretch it to at least 15 years and has raised questions whether the increasingly popular tracks really belong in the same tax category as amusement parks. Auto track owners are simply trying to get out of paying more taxes – which they’d have to do if they deducted less every year. These owners have gotten plenty of tax breaks over the years from states and localities eager to get speedways. The provision would be extended 2 years till the end of 2009 and would cost $100 million. The provision encompasses all facilities including grandstands, parking lots and concession stands.
  3. Sec. 308. Increase in limit on cover over of rum excise tax to Puerto Rico and the Virgin Islands Extends until December 31, 2009 a rebate against excise taxes charged on rum imported from Puerto Rico and the Virgin Islands. A $13.50 per proof gallon excise tax is applied to distilled spirits imported to the U.S. Under this provision a $13.25 rebate is returned to PR and the VI, and is retroactive back to January 1, 2008. Permanent law sets the rebate at $10.50 per proof gallon, but the PR and VI provisions have generally been in place since the first Clinton Administration. The most recent extension of the $13.50 rebate expired January 1, 2008. Cost is $192 million.
  4. Sec. 301. Extension and modification of research creditThe legislation reestablishes and extends the lucrative tax credit for companies doing research and experimentation in the United States. Companies that have benefited from this provision include Microsoft Corp., Boeing Co., United Technologies Corp., Electronic Data Systems Corp. and Harley-Davidson. The two-year extension is estimated to cost $19 billion.
  5. Sec. 504. Income averaging for amounts received in connection with the Exxon Valdez litigation The bailout bill would give a tax break to Exxon Valdez plaintiffs, allowing them to average out their punitive damages awards over three years rather than suffer a one-time tax hit from the Internal Revenue Service, as well as other provisions. Rep. Don Young (R-AK) is a big supporter of this provision. Cost is estimated at $49 million.
  6. Sec. 601. Secure rural schools and community self-determination program. Secure Rural Schools lead sponsors Reps. DeFazio (D-OR), Bill Sali (R-ID); Sens. Wyden (D-OR), Larry Craig (R-ID), are major boosters of this program that expired in 2006. In 1908 the federal government agreed to share logging revenue from Forest Service land with neighboring communities that could not tax the land because it was federal. As logging declined in the 1990s, the “county payments” program was initiated in 2000 to directly provide federal funding, more than half going to Oregon, to deal with the loss of revenue. The original version of this provision was introduced as a bill in early 2007 and was estimated to cost $2.2 billion when the OR and ID delegations came to agreement. To give the package more heft, Payment In Lieu of Taxes (PILT) was added to the package, bringing the total cost to $3.3 billion. PILT provides more general funding to counties for federal lands located within their borders. Sen. Reid (D-NV) talked about the PILT program being one of the important elements of the package when the Senate passed the bailout bill.
  7. Sec. 201. Deduction for state and local sales taxes Allows residents of states that don’t pay income tax to deduct, from their federal taxes, sales tax paid over the course of the year. States that benefit include Texas, Nevada, Florida, Washington and Wyoming. The bailout bill extends this provision for 2 years at a cost of $3.3 billion.
  8. Sec 502. Provisions related to film and television productions In an effort to keep film and television productions in the U.S, they would be eligible for a tax incentive program. Under this program, the cost of production of qualifying films would be permitted to be immediately expensed — that is, fully deducted from income for tax purposes — in the year the expenditures occur. This provision also makes permanent other favorable tax treatments for production. Historically Rep. Diane Watson (D-CA) has been a supporter (dating from its creation in the 2004 corporate tax bill). The cost is estimated at $478 million over 10 years.
  9. Sec. 325. Extension and modification of duty suspension on wool products; wool research fund; wool duty refunds The tariff relief (duty savings) is intended to benefit U.S. worsted wool fabric producers that use imported fibers and yarns as inputs, as well as U.S. tailored clothing manufacturers that use imported fabrics as inputs. This provision was originally introduced as a bill in December 2007 by Reps. Louise Slaughter (D-NY) and Melissa Bean (D-IL). It extends current law provisions until 12/31/14, and in some cases to12/31/15. The 2010 to 2015 cost is estimated to be $148 million.
  10. Sec. 309. Extension of economic development credit for American Samoa This extends by two years a previously approved tax credit, the American Samoa economic development credit. In general, this credit allows certain corporations operating in American Samoa a tax credit. The possessions tax credit allows these corporations to offset a portion of their U.S. tax liability on income earned in American Samoa from active business operations, sales of assets used in a business, or certain investments in American Samoa. The cost is $33 million, according to the Joint Committee on Taxation.
Other Examples:
Here are some other interesting provisions
Sec. 201. Inclusion of cellulosic biofuel in bonus depreciation for biomass ethanol plant property
Current law allows taxpayers to write-off 50% of the cost of any facility placed in service before January 1, 2013 that produces cellulosic ethanol. This provision expands the types of facilities that may be written-off to include production of other cellulosic biofuels in addition to cellulosic ethanol.Sec. 211. Transportation fringe benefit to bicycle commutersAllows employers to provide a benefit to employees for costs associated with bicycle commuting, including purchase and repair of a bicycle, bicycle improvements, and bicycle storage. This provision was proposed in 2007 in the Senate by Sen. Ron Wyden (D-OR) and in the House by Rep. Earl Blumenauer (D-OR). This provision is estimated to cost $10 million.Sec. 323. Enhanced charitable deductions for contributions of food inventory
Extends by two years, until December 31, 2009, a provision allowing for deductions related to the charitable donation of “apparently wholesome food”—defined as food intended for human consumption that meets all quality and labeling standards imposed by law and regulations even though the food may not be readily marketable. This provision also changes the application of the law as it relates to donations by farmers and ranchers. The cost is $149 million, according to Joint Committee on Taxation. Sec. 324. Extension of enhanced charitable deduction for contributions of bookinventory

Extends by two years, until December 31, 2009, a tax benefit for the contribution of books to public schools. The provision is worth $49 million. Sec. 602. Transfer to abandoned mine reclamation fund
Transfers interest earned on money in the abandoned mine reclamation fund to the United Mine Workers of America Combined Benefit Fund, which helps pay health benefits for retired miners and their dependents who worked under collective bargaining agreements that promised lifetime health-care benefits. States with the most miners receiving benefits have historically been Pennsylvania, West Virginia, Kentucky, Virginia, and Ohio. This provision extends existing law to include a $9 million transfer for 2010.

The Foundry Tea Party Talking Points

DON’T BORROW, SPEND, AND TAX AWAY OUR FUTUREThe President’s Plan
  • Blames Bush: President Obama correctly points out that he inherited a projected $1.2 trillion deficit in 2009 from President Bush and a Democratic Congress. However, his budget adds an additional $659 billion to that deficit, pushing it above $1.8 trillion. Although Obama has pledged to reduce the budget deficit to approximately $600 billion by 2012, that would still be $150 billion above pre-recession levels. Quadrupling the deficit and then cutting it in half is not “change.”
  • Increases Spending, Again: After an $800 billion stimulus bill, the Obama budget increases spending by $1 trillion over 10 years, includes an additional $250 billion placeholder for another bailout, and calls for a Pay-As-You-Go (PAYGO) law while astonishingly violating that rule by $3.4 trillion.
  • Expands Government: The 25% spending increase in the Obama budget represents the largest non-war government expansion since the New Deal.
  • Leaves Deficits: The Obama budget leaves permanent deficits averaging $600 billion even after the economy recovers and doubles the publicly held national debt to over $15 trillion ($12.5 trillion in 2009 dollars).
  • Cuts Defense: The Obama budget fails to fully fund the core defense needs of the United States. About $30 billion more is needed in the base defense budget.
  • Puts Government in Charge: The $634 billion for health care reform in the Obama budget is only a “down payment” on an eventual government-run system. Experts believe the actual cost could reach $1.6 trillion over 10 years. This is in addition to the trillions already spent on health care this year in the stimulus and SCHIP bills.
Taxes, Taxes, Taxes
  • Energy Taxes: The Obama budget proposes a $646 billion cap-and-trade tax that White House officials admit could actually generate $1.9 trillion in tax revenue over eight years. This tax would cost each American household between $650 and $2,000 annually in new energy costs, even though President Obama promised that “electricity rates would necessarily skyrocket” under this cap-and-trade program (January 2008).
  • Oil and Gas Taxes: The Obama budget would collect $31 billion in new oil and gas tax revenue. These industries are already taxed above the industrial average, and increasing the burden would be detrimental to increasing or even maintaining domestic supply.
  • Excise Taxes: The Obama budget would reinstate unnecessary Superfund excise taxes that expired in 1995.
  • Death Taxes: The estate tax is set to expire in 2010, but the Obama budget and liberals in Congress are proposing keeping it between 35 and 45%.
  • Tobacco Taxes: The largest tobacco tax in history is three times as likely to affect low-income Americans, who are more likely to smoke, as it is to affect high-income Americans.
There Are Alternatives
  • A Path to American Prosperity: There are now two 10-year budget plans being offered in Washington. The Obama budget raises taxes by $1.4 trillion; the conservative Alternative avoids all tax increases and even simplifies the tax code. One budget does nothing to address the unsustainable costs of Social Security and Medicaid; the other begins to reform these programs. One budget permanently raises federal spending to over 22% of GDP; the other lowers it to pre-recession levels.
  • Lower Taxes: Senator Jim DeMint’s “American Option” would have reduced business taxes from 35 percent to 25 percent to spur rapid growth in wages, jobs and business incomes. It also would have permanently repealed the Alternative Minimum Tax and reduced the individual tax rate to three levels—10, 15, and 25 percent—giving Americans more of their own money to fuel the economy and increasing disposable income for an average family of four by up to $4,500 by 2013.

from www.therogerhedgecockshow.com:

Ten Tax Facts for Tax Day Tea Parties
President Barack Obama and the U.S. Congress have gone on a spending and debt spree that the country cannot afford. As a result, a spontaneous grassroots movement is emerging from every corner of the nation with a message for Congress and the president: Stop spending us into an inevitable spiral of debt and higher taxes … now!
To that end, groups of Americans will be meeting in towns and cities across the nation on April 15 for “Tax Day Tea Parties” (think Boston Tea Party, not biscuits and fine English china). These “Ten Tax Facts” are our effort to make sure the American people are well- informed as they gather together to express their concern about the direction Washington is headed.
  1. Under the Obama budget, the Congressional Budget Office (CBO) projects that the national debt will double over the next five years; and it will triple over the next 10 years to $17.3 trillion.
  2. Under the Obama budget, CBO projects that the national debt will soar over the next 10 years from 40 percent of GDP today to a shocking 82.4 percent. (Ronald Reagan left office with the national debt at 42 percent of GDP).
  3. The president’s budget also states that total federal borrowing will grow by $2.7 trillion this year alone, an increase of 27 percent in one year!
  4. The budget President Obama proposes for this year increases federal spending by an incredible 34 percent over the previous year, with a total of $4 trillion in federal spending, the highest ever.
  5. The federal budget deficit (not the national debt) would reach $1.845 trillion this year, according to the CBO, the highest ever. That would be more than seven times Reagan’s largest budget deficit of $221 billion, which caused so much consternation among Reagan’s critics.
  6. The CBO estimates that this Obama budget deficit will total an astounding 13.1 percent of GDP, more than one-eighth of the entire U.S. economy, for the federal budget deficit alone! Under George Bush, the federal deficit for 2008 was 3.2 percent of GDP. The deficit for fiscal year 2007, in the last budget adopted when Congress was controlled by Republican majorities, was $162 billion, or 1.2 percent of GDP.
  7. The Obama budget also includes $1 trillion in tax increases on the upper 5 percent of income earners, mostly tax rate increases. But the top 5 percent of income earners already pays 60 percent of all income taxes.
  8. The Obama budget projects that revenues from the corporate income tax will more than double in 3 years, increasing, in fact, by more than 124 percent.
  9. Another $645 billion tax increase comes from President Obama’s anti-global warming cap and trade system, which is essentially an energy tax on the production and use of carbon energy, such as oil, natural gas, and coal.
  10. While the Obama administration claims to have cut $2 trillion from the budget over 10 years, fully $1.5 trillion of those “cuts” actually represents the troop drawdown in Iraq, which was already scheduled to occur under the Bush administration. Of the remaining $500 billion in budget “savings,” fully $311 billion is categorized as “interest savings” but is actually an additional tax increase on upper income earners.

It’s not as if you can’t stimulate economic growth while at the same time cutting government spending. President Reagan did it. Reagan adopted budget cuts soon after he entered office equal to close to 5 percent of the federal budget at the time. Even with his defense buildup, total federal spending declined from a high of 23.5 percent of GDP in 1983 to 21.3 percent in 1988 and 21.2 percent in 1989. That’s a 10 percent real reduction in the size of government relative to the economy. Reagan’s policies conquered inflation and started a 25-year period of economic growth, which would look awfully good today.

 

Oh yes. Anger is Brewing.

 

$1.1 Trillion taxpayer funded Bailout

Banks: $246.73 billion

Toxic Asset Purchases: $100.00 billion

AIG: $70.00 billion

Fannie and Freddie: $59.80 billion

Foreclosure relief: $50.00 billion

Auto Companies: $24.78 billion

Other commitments: $79.17 billion

Uncommitted: $469.51 billion

Bailout Recipients

This list shows a breakdown of where the Treasury Department, authorized by Congress, has directed taxpayer money in the ongoing bailout of the financial system. It accounts for both the broader $700 billion bill and the separate bailout of Fannie Mae and Freddie Mac, to which Treasury has set a limit of $400 billion.

This is a list of companies that have been allocated funds. To see a complete list of Treasury’s programs – see the programs page.

Total Bailouts: $405,489,017,131.00

name

category

total_bailout

state

AIG

Insurance Company

$70,000,000,000.00

NY

Bank of America

Bank

Public

$52,500,000,000.00

NC

Citigroup

Bank

Public

$50,000,000,000.00

NY

Freddie Mac

Financial Services Company

$44,600,000,000.00

VA

JPMorgan Chase

Bank

Public

$25,000,000,000.00

NY

Wells Fargo

Bank

Public

$25,000,000,000.00

CA

Fannie Mae

Financial Services Company

$15,200,000,000.00

DC

General Motors

Auto Company

$14,284,024,131.00

MI

Goldman Sachs

Bank

Public

$10,000,000,000.00

NY

Morgan Stanley

Bank

Public

$10,000,000,000.00

NY

PNC Financial Services

Bank

Public

$7,579,200,000.00

PA

U.S. Bancorp

Bank

Public

$6,599,000,000.00

MN

GMAC

Financial Services Company

$5,000,000,000.00

MI

SunTrust

Bank

Public

$4,850,000,000.00

GA

Chrysler

Auto Company

$4,000,000,000.00

MI

Capital One Financial Corp.

Bank

Public

$3,555,199,000.00

VA

Regions Financial Corp.

Bank

Public

$3,500,000,000.00

AL

Fifth Third Bancorp

Bank

Public

$3,408,000,000.00

OH

American Express

Financial Services Company

$3,388,890,000.00

NY

BB&T

Bank

Public

$3,133,640,000.00

NC

Bank of New York Mellon

Bank

Public

$3,000,000,000.00

NY

KeyCorp

Bank

Public

$2,500,000,000.00

OH

CIT Group

Bank

Public

$2,330,000,000.00

NY

Comerica Incorporated

Bank

Public

$2,250,000,000.00

TX

State Street

Bank

Public

$2,000,000,000.00

MA

Marshall & Ilsley

Bank

Public

$1,715,000,000.00

WI

Northern Trust

Bank

Public

$1,576,000,000.00

IL

Chrysler Financial Services

Financial Services Company

$1,500,000,000.00

MI

Zions Bancorp

Bank

Public

$1,400,000,000.00

UT

Huntington Bancshares

Bank

Public

$1,398,071,000.00

OH

Discover Financial Services

Financial Services Company

$1,224,558,000.00

IL

Synovus Financial Corp.

Bank

Public

$967,870,000.00

GA

Popular, Inc.

Bank

Public

$935,000,000.00

PR

First Horizon National

Bank

Public

$866,540,000.00

TN

M&T Bank Corporation

Bank

Public

$600,000,000.00

NY

Associated Banc-Corp

Bank

Public

$525,000,000.00

WI

City National

Bank

Public

$400,000,000.00

CA

First BanCorp

Bank

Public

$400,000,000.00

PR

Webster Financial

Bank

Public

$400,000,000.00

CT

Fulton Financial Corp

Bank

Public

$376,500,000.00

PA

TCF Financial

Bank

Public

$361,172,000.00

MN

South Financial Group

Bank

Public

$347,000,000.00

SC

Wilmington Trust Corporation

Bank

Public

$330,000,000.00

DE

East West Bancorp, Inc.

Bank

Public

$306,546,000.00

CA

Sterling Financial Corp

Bank

Public

$303,000,000.00

WA

Citizens Republic Bancorp

Bank

Public

$300,000,000.00

MI

Susquehanna Bancshares

Bank

Public

$300,000,000.00

PA

Valley National

Bank

Public

$300,000,000.00

NJ

Whitney Holding Corp

Bank

Public

$300,000,000.00

LA

UCBH Holdings

Bank

Public

$298,737,000.00

CA

First Banks, Inc.

Bank

Private

$295,400,000.00

MO

New York Private Bank & Trust Corp

Bank

Private

$267,274,000.00

NY

Flagstar Bancorp

Bank

Public

$266,657,000.00

MI

Cathay General Bancorp

Bank

Public

$258,000,000.00

CA

Wintrust Financial Corp

Bank

Public

$250,000,000.00

IL

PrivateBancorp

Bank

Public

$243,815,000.00

IL

SVB Financial Group

Bank

Public

$235,000,000.00

CA

International Bancshares Corporation

Bank

Public

$216,000,000.00

TX

Trustmark Corp

Bank

Public

$215,000,000.00

MS

Umpqua

Bank

Public

$214,181,000.00

OR

Washington Federal Inc.

Bank

Public

$200,000,000.00

WA

MB Financial

Bank

Public

$196,000,000.00

IL

First Midwest Bancorp

Bank

Public

$193,000,000.00

IL

First Niagara

Bank

Public

$184,011,000.00

NY

Pacific Capital Bancorp

Bank

Public

$180,634,000.00

CA

United Community Banks

Bank

Public

$180,000,000.00

GA

Boston Private Financial Holdings

Bank

Public

$154,000,000.00

MA

Provident Bankshares Corp.

Bank

Public

$151,500,000.00

MD

National Penn Bancshares

Bank

Public

$150,000,000.00

PA

Dickinson Financial Corp II

Bank

Private

$146,053,000.00

MO

Western Alliance Bancorporation

Bank

Public

$140,000,000.00

NV

Central Pacific Financial Corp

Bank

Public

$135,000,000.00

HI

CVB Financial

Bank

Public

$130,000,000.00

CA

Sterling Bancshares

Bank

Public

$125,198,000.00

TX

FirstMerit Corp

Bank

Public

$125,000,000.00

OH

Banner Corp

Bank

Public

$124,000,000.00

WA

First Merchants Corp

Bank

Public

$116,000,000.00

IN

1st Source Corp

Bank

Public

$111,000,000.00

IN

Anchor BanCorp Wisconsin

Bank

Public

$110,000,000.00

WI

WTB Financial Corp

Bank

Private

$110,000,000.00

WA

S&T Bancorp

Bank

Public

$108,676,000.00

PA

Taylor Capital

Bank

Public

$104,823,000.00

IL

F.N.B. Corporation

Bank

Public

$100,000,000.00

PA

First Busey Corporation

Bank

Public

$100,000,000.00

IL

Park National Corporation

Bank

Public

$100,000,000.00

OH

Pinnacle Financial

Bank

Public

$95,000,000.00

TN

Plains Capital Corp

Bank

Private

$87,631,000.00

TX

Midwest Banc Holdings

Bank

Public

$84,784,000.00

IL

Westamerica Bancorporation

Bank

Public

$83,726,000.00

CA

Integra Bank Corporation

Bank

Public

$83,586,000.00

IN

Sandy Spring Bancorp

Bank

Public

$83,094,000.00

MD

Heartland Financial USA

Bank

Public

$81,698,000.00

IA

Hampton Roads Bankshares

Bank

Public

$80,347,000.00

VA

First Financial Bancorp

Bank

Public

$80,000,000.00

OH

Liberty Bancshares

Bank

Private

$79,400,000.00

AR

Independent Bank Corp

Bank

Public

$78,158,000.00

MA

Columbia Banking System

Bank

Public

$76,898,000.00

WA

TowneBank

Bank

Public

$76,458,000.00

VA

Bank of the Ozarks

Bank

Public

$75,000,000.00

AR

Texas Capital Bancshares

Bank

Public

$75,000,000.00

TX

WesBanco

Bank

Public

$75,000,000.00

WV

Old Second Bancorp

Bank

Public

$73,000,000.00

IL

First Place Financial Corp

Bank

Public

$72,927,000.00

OH

Green Bankshares

Bank

Public

$72,278,000.00

TN

Independent Bank Corporation

Bank

Public

$72,000,000.00

MI

Virginia Commerce Bancorp

Bank

Public

$71,000,000.00

VA

Alpine Banks of Colorado

Bank

Private

$70,000,000.00

CO

Flushing Financial Corp

Bank

Public

$70,000,000.00

NY

Southwest Bancorp

Bank

Public

$70,000,000.00

OK

Superior Bancorp

Bank

Public

$69,000,000.00

AL

Nara Bancorp

Bank

Public

$67,000,000.00

CA

First Bancorp

Bank

Public

$65,000,000.00

NC

First Financial Holdings

Bank

Public

$65,000,000.00

SC

SCBT Financial Corp

Bank

Public

$64,779,000.00

SC

CoBiz Financial

Bank

Public

$64,450,000.00

CO

Wilshire Bancorp

Bank

Public

$62,158,000.00

CA

Lakeland Bancorp

Bank

Public

$59,000,000.00

NJ

Union Bankshares

Bank

Public

$59,000,000.00

VA

Great Southern Bancorp

Bank

Public

$58,000,000.00

MO

MainSource Financial Group

Bank

Public

$57,000,000.00

IN

Peoples Bancorp

Bank

Public

$57,000,000.00

OH

Lakeland Financial Corporation

Bank

Public

$56,044,000.00

IN

Center Financial Corp

Bank

Public

$55,000,000.00

CA

WSFS Financial

Bank

Public

$52,625,000.00

DE

NewBridge Bancorp

Bank

Public

$52,372,000.00

NC

Ameris Bancorp

Bank

Public

$52,000,000.00

GA

FNB United Corp

Bank

Public

$51,500,000.00

NC

BancTrust Financial Group

Bank

Public

$50,000,000.00

AL

Home BancShares, Inc.

Bank

Public

$50,000,000.00

AR

Seacoast Banking Corp

Bank

Public

$50,000,000.00

FL

State Bankshares

Bank

Private

$50,000,000.00

ND

Fidelity Southern Corp

Bank

Public

$48,200,000.00

GA

BancPlus Corporation

Bank

Private

$48,000,000.00

MS

The Bancorp

Bank

Public

$45,220,000.00

DE

MetroCorp Bancshares

Bank

Public

$45,000,000.00

TX

Cadence Financial Corp

Bank

Public

$44,000,000.00

MS

Exchange Bank

Bank

Private

$43,000,000.00

CA

Southern Community Financial

Bank

Public

$42,750,000.00

NC

Sterling Bancorp

Bank

Public

$42,000,000.00

NY

First Community Bancshares

Bank

Public

$41,500,000.00

VA

PremierWest Bancorp

Bank

Public

$41,400,000.00

OR

Capital Bank

Bank

Public

$41,279,000.00

NC

Berkshire Hills Bancorp

Bank

Public

$40,000,000.00

MA

Heritage Commerce Corp

Bank

Public

$40,000,000.00

CA

Reliance Bancshares

Bank

Private

$40,000,000.00

MO

Cascade Financial Corp

Bank

Public

$38,970,000.00

WA

OceanFirst Financial Corp

Bank

Public

$38,263,000.00

NJ

QCR Holdings

Bank

Public

$38,237,000.00

IL

Eagle Bancorp

Bank

Public

$38,235,000.00

MD

Bridgeview Bancorp

Bank

Private

$38,000,000.00

IL

Financial Institutions

Bank

Public

$37,515,000.00

NY

First Defiance Financial Corp

Bank

Public

$37,000,000.00

OH

TIB Financial Corp

Bank

Public

$37,000,000.00

FL

State Bancorp

Bank

Public

$36,842,000.00

NY

Fidelity Financial Corp

Bank

Private

$36,282,000.00

KS

West Bancorporation

Bank

Public

$36,000,000.00

IA

Yadkin Valley Financial Corp

Bank

Public

$36,000,000.00

NC

Trinity Capital Corporation

Bank

Private

$35,539,000.00

NM

Marquette National Corp

Bank

Private

$35,500,000.00

IL

Enterprise Financial Services Corp

Bank

Public

$35,000,000.00

MO

Porter Bancorp

Bank

Public

$35,000,000.00

KY

F&M Financial Corporation

Bank

Private

$34,243,000.00

NC

Encore Bancshares

Bank

Public

$34,000,000.00

TX

The Bank of Kentucky

Bank

Public

$34,000,000.00

KY

First Market Bank

Bank

Private

$33,900,000.00

VA

First Security Group

Bank

Public

$33,000,000.00

TN

Firstbank Corp

Bank

Public

$33,000,000.00

MI

Centrue Financial

Bank

Public

$32,668,000.00

MO

Pulaski Financial Corp

Bank

Public

$32,538,000.00

MO

Central Bancorp

Bank

Public

$32,500,000.00

MA

MutualFirst Financial

Bank

Public

$32,382,000.00

IN

Parkvale Financial Corp

Bank

Public

$31,762,000.00

PA

Bank of North Carolina

Bank

Public

$31,260,000.00

NC

Royal Bancshares of Pennsylvania

Bank

Public

$30,407,000.00

PA

Hawthorn Bancshares

Bank

Public

$30,255,000.00

MO

Bancorp Rhode Island

Bank

Public

$30,000,000.00

RI

Farmers Capital Bank Corp

Bank

Public

$30,000,000.00

KY

First M&F Corp

Bank

Public

$30,000,000.00

MS

First United Corp

Bank

Public

$30,000,000.00

MD

Spirit BankCorp

Bank

Private

$30,000,000.00

OK

StellarOne Corp

Bank

Public

$30,000,000.00

VA

Tennessee Commerce Bancorp

Bank

Public

$30,000,000.00

TN

Peapack-Gladstone Financial

Bank

Public

$28,685,000.00

NJ

Colony Bankcorp

Bank

Public

$28,000,000.00

GA

CenterState Banks of Florida, Inc.

Bank

Public

$27,875,000.00

FL

Intermountain Community Bancorp

Bank

Public

$27,000,000.00

TOP

Stimulus Plan: Spending

The Stimulus Plan: A Detailed List of Spending

by Michael Grabell and Christopher Weaver, ProPublica – February 13, 2009 10:24 am EST

Feb. 13, 10:55p.m.: This post was updated to reflect that the Senate voted for the stimulus package.

The House approved the economic stimulus plan Friday afternoon with a vote of 246 to 183, followed by the Senate with a vote of 60 to 38. Want to know what’s in it? You could read the 1,071-page gorilla that passed today. Or you could let us do the work for you. We’ve dissected the beast in two charts – one for spending below, and one for taxes.

The appropriations section of the bill details spending in excess of $311 billion for programs ranging from Pell grants for college students to clean water in central Utah to nearly $100 billion in new transportation and infrastructure projects.

Program

Funding

Accountability

$323,500,000

Department of Agriculture – Office of Inspector General

$22,500,000

Department of Commerce – Office of Inspector General

$10,000,000

National Oceanic and Atmospheric Administration – Office of Inspector General

$6,000,000

Department of Justice – Office of Inspector General

$2,000,000

NASA – Office of Inspector General

$2,000,000

Defense Department – Office of Inspector General

$15,000,000

Department of Energy – Office of Inspector General

$15,000,000

Department of the Treasury – Inspector General for Tax Administration

$7,000,000

General Services Administration – Office of Inspector General

$7,000,000

Recovery Act Accountability and Transparency Board

$84,000,000

Small Business Administration – Office of Inspector General

$10,000,000

Department of Homeland Security – Office of Inspector General

$5,000,000

Bureau of Indian Affairs – Office of Inspector General

$15,000,000

Environmental Protection Agency – Office of Inspector General

$20,000,000

Department of Labor – Office of Inspector General

$6,000,000

Department of Health and Human Services – Office of Inspector General related to
Office of the National Coordinator for Health Information Technology

$17,000,000

Department of Education – Office of Inspector General

$14,000,000

Corporation for National and Community Service – Office of Inspector General

$1,000,000

Social Security Administration – Office of Inspector General

$2,000,000

Government Accountability Office salaries and expenses

$25,000,000

Veterans Affairs – Office of Inspector General

$1,000,000

State Department – Office of Inspector General

$2,000,000

Department of Transportation – Office of Inspector General

$20,000,000

Department of Housing and Urban Development – Office of Inspector General

$15,000,000

Aid to People Affected by Economic Downturn

$36,910,807,000

Rural Housing Service insurance fund program account – direct loans and unsubsidized
guaranteed loans

$11,672,000,000

Rural community facilities program account

$130,000,000

Special supplemental nutrition program for women, infants and children (WIC)

$500,000,000

School lunch programs for schools in which at least 50% of students are eligible for free
or reduced price meals

$100,000,000

Food bank commodity assistance program

$150,000,000

Temporary increase in benefits under the Supplemental Nutrition Assistance Program
(food stamps)

$19,900,000,000

Food distribution program on Indian reservations

$5,000,000

Agricultural disaster assistance transition – Federal Crop Insurance Act

Farm operating loans

$173,367,000

Direct farm operating loans

$20,440,000

IRS health insurance tax credit administration

$80,000,000

Emergency food and shelter

$100,000,000

Bureau of Indian Affairs job training and housing improvement programs

$40,000,000

Indian guaranteed loan program

$10,000,000

Community service employment for older Americans

$120,000,000

Extra funding for state unemployment insurance

$150,000,000

State re-employment services for the jobless

$250,000,000

Child care assistance for low-income families

$1,651,227,000

Child care assistance for low-income families through state programs

$255,186,000

Child care assistance for low-income families to improve infant and toddler care

$93,587,000

Community Service Block Grant Program

$1,000,000,000

Social Security Act funding

50,000,000

Social Security Administration processing of disability and retirement workloads

$460,000,000

Aid to State and Local Governments

$58,355,000,000

State administrative expenses to carry out increase in food stamp program

$295,000,000

Economic development assistance programs

$150,000,000

Violence against women prevention and prosecution programs

$225,000,000

Office of Justice Programs state and local law enforcement assistance (Edward Byrne
Memorial Justice Assistance Grants)

$2,000,000,000

State and local law enforcement assistance grants to improve criminal justice
systems, assist crime victims and mentor youth

$225,000,000

Southern border and high-intensity drug trafficking areas

$30,000,000

ATF Project Gunrunner

$10,000,000

State and local law enforcement assistance to Indian tribes

$225,000,000

Crime victim assistance

$100,000,000

Rural drug crime program

$125,000,000

Internet crimes against children initiatives

$50,000,000

Community Oriented Policing Services (COPS) grants

$1,000,000,000

Justice Department salaries and expenses for administration of police grant programs

$10,000,000

Community Development Financial Institutions Fund for financial assistance, training
and outreach to Native American, Hawaiian and Alaskan native communities

$100,000,000

Local and state fire station upgrades and construction

$210,000,000

Disaster assistance direct loans may exceed $5,000,000 and may be equal to not
more than 50% of local government annual budget if the government lost 25% or more in tax revenues

State Fiscal Stabilization Fund to avoid cutbacks and layoffs (82% must be used for
education while 18% may be used for public safety and other government services. The
latter part may be used for repairs and modernization of K-12 schools and college and
university buildings.)

$53,600,000,000

Business

$870,000,000

Rural Business – Cooperative Service: rural business program account

$150,000,000

Small Business Administration salaries and expenses, microloan program and
improvements to technology systems

$69,000,000

Surety bond guarantees revolving fund

$15,000,000

Small business loans

$636,000,000

Education

$48,420,000,000

State grants for adult job training

$500,000,000

State grants for youth job training and summer employment opportunities

$1,200,000,000

Dislocated worker job training

$1,250,000,000

YouthBuild program for high school dropouts who re-enroll in other schools

$50,000,000

Job training in emerging industries

$250,000,000

Job training in the renewable energy field

$500,000,000

Head Start programs

$1,000,000,000

Early Head Start program expansion

$1,100,000,000

Education for the disadvantaged – elementary and secondary education

10,000,000,000

Education for the disadvantaged – school improvement grants

$3,000,000,000

Education impact aid

$100,000,000

School improvement programs

$650,000,000

Innovation and improvement of elementary and secondary schools

$200,000,000

Special education funding under the Individuals with Disabilities Education Act

$12,200,000,000

Pell grants for higher education

$15,840,000,000

Institute of Education data systems

$245,000,000

Institute of Education state data coordinators

$5,000,000

Dislocated worker assistance national reserve

$200,000,000

School improvement grants awarded based on the number of homeless students
identified in a state

$70,000,000

Student aid administrative costs

$60,000,000

Energy

$41,400,000,000

Energy efficiency and conservation block grants

$3,200,000,000

Weatherization Assistance Program (increases maximum income level and maximum
assistance)

$5,000,000,000

State energy program

$3,100,000,000

Advanced batteries manufacturing, including lithium ion batteries, hybrid electrical
systems, component manufacturers and software designers

$2,000,000,000

Modernize electricity grid

$4,400,000,000

Electricity grid worker training

$100,000,000

Fossil energy research and development

$3,400,000,000

Uranium Enrichment Decontamination and Decommissioning Fund

$390,000,000

Department of Energy science programs

$1,600,000,000

Advanced Research Projects Agency

$400,000,000

Innovative technology loan guarantee program

$6,000,000,000

Western Area Power Administration construction and maintenance

$10,000,000

Bonneville Power Administration borrowing authority

$3,250,000,000

Western Area Power Administration borrowing authority

$3,250,000,000

Leading edge biofuel projects

$500,000,000

Federal building conversion to “high-performance green buildings”

$4,500,000,000

Energy efficiency federal vehicle fleet procurement

$300,000,000

Health Care

$18,830,000,000

Indian Health Service information technology and telehealth services

$85,000,000

Indian health facilities

$415,000,000

Grants for public health centers

$500,000,000

Construction, renovation, equipment and information technology for health centers

$1,500,000,000

National Health Service Corps funding

$75,000,000

Addressing health professions workforce shortage

$425,000,000

National Institutes of Health grants and contracts to renovate non-federal research
facilities

$1,000,000,000

National Institute of Health grants and contracts for shared resources and equipment
for grantees

$300,000,000

National Institutes of Health fund to support scientific research

$7,400,000,000

National Institutes of Health Common Fund

$800,000,000

National Institutes of Health renovations of high-priority buildings at the Bethesda, Md.,
campus, and at other locations

$500,000,000

Comparative effectiveness research

$300,000,000

Comparative effectiveness research by the National Institutes of Health

400,000,000

Comparative effectiveness research by the Department of Health and Human Services

$400,000,000

Office of the National Coordinator for Health Information Technology

$1,680,000,000

National Coordinator for Health Information Technology’s regional or subnational efforts

$300,000,000

Department of Commerce health care information enterprise integration activities
related to the Office of the National Coordinator for Health Information Technology

$20,000,000

Department of Health and Human Services computer and information technology
security

$50,000,000

Department of Health and Human Services Prevention and Wellness Fund

$1,000,000,000

Prevention and Wellness Fund immunization program

$300,000,000

Prevention and Wellness Fund evidence-based clinical and community-based
prevention strategies

$650,000,000

Prevention and Wellness Fund reduction in incidence of health-care-associated
infections

$50,000,000

Rehabilitation services and disability research

540,000,000

State grants for rehabilitation services and disability research

$18,200,000

Rehabilitation services in independent living centers

$87,500,000

Rehabilitation services for older blind individuals

$34,300,000

Other

$2,147,000,000

Census Bureau programs

$1,000,000,000

Digital-to-analog television converter box program

$650,000,000

President shall establish arbitration panel under FEMA public assistance program to
expedite recovery efforts from Hurricanes Katrina and Rita

Requirement that Department of Homeland Security uniforms be manufactured and
sewn together by U.S. fabric and apparel companies

National Endowment for the Arts grants

$50,000,000

Department of Labor salaries and expenses

$80,000,000

Additional awards to existing AmeriCorps grantees

$83,000,000

AmeriCorps program salaries and expenses

$5,200,000

AmeriCorps program administrative costs of expansion

$800,000

National security trust appropriation

$40,000,000

Social Security Administration health information technology research

$40,000,000

Filipino World War II veterans compensation

$198,000,000

Science and Technology

$13,142,000,000

Farm Service Agency salaries and expenses to maintain and modernize the
information technology system

$50,000,000

Distance learning, telemedicine and broadband program

$2,500,000,000

National Telecommunications and Information Administration – broadband technology
opportunities program

$4,690,000,000

National Institute of Standards and Technology scientific and technical research and
services

$220,000,000

National Institute of Standards and Technology construction of research facilities

$360,000,000

National Oceanic and Atmospheric Administration operations, research and facilities

$230,000,000

National Oceanic and Atmospheric Administration procurement, acquisition and
construction

$600,000,000

NASA science

$400,000,000

NASA aeronautics

$150,000,000

NASA exploration

$400,000,000

NASA cross agency support

$50,000,000

National Science Foundation research and related activities

$2,500,000,000

National Science Foundation education and human resources

$100,000,000

National Science Foundation major research equipment and facilities construction

$400,000,000

National Science Foundation – Office of Inspector General

$2,000,000

Veterans Affairs for hiring and training of claims processors

$150,000,000

Veterans Affairs information technology systems

$50,000,000

State Department technology security upgrades

$252,000,000

U.S. Agency for International Development (USAID) technology

$38,000,000

Transportation and Infrastructure

$98,325,000,000

Agriculture buildings and facilities and rental payments

$24,000,000

Agricultural Research Service buildings and facilities

$176,000,000

Natural Resources Conservation Service watershed and flood prevention programs

$290,000,000

Watershed rehabilitation program

$50,000,000

Rural Utilities Service water and waste disposal program account

$1,380,000,000

Defense Department facilities operation and maintenance, Army

$1,474,525,000

Defense Department facilities operation and maintenance, Navy

$657,051,000

Defense Department facilities operation and maintenance, Marine Corps

$113,865,000

Defense Department facilities operation and maintenance, Air Force

$1,095,959,000

Defense Department facilities operation and maintenance, Army Reserve

$98,269,000

Defense Department facilities operation and maintenance, Navy

$55,083,000

Defense Department facilities operation and maintenance, Marine Corps Reserve

$39,909,000

Defense Department facilities operation and maintenance, Air Force Reserve

$13,187,000

Defense Department facilities operation and maintenance, Army National Guard

$266,304,000

Defense Department facilities operation and maintenance, Air National Guard

$25,848,000

Army research development, test and evaluation

$75,000,000

Navy research development, test and evaluation

$75,000,000

Air Force research development, test and evaluation

$75,000,000

Defense-wide research development, test and evaluation

$75,000,000

Defense Department medical facilities repair and modernization including energy
efficiency

$400,000,000

Corps of Engineers investigations

$25,000,000

Corps of Engineers construction

$2,000,000,000

Corps of Engineers – Mississippi River and tributaries

$375,000,000

Corps of Engineers operations and maintenance

$2,075,000,000

Corps of Engineers regulatory program

$25,000,000

Corps of Engineers formerly utilized sites remedial action program

$100,000,000

Bureau of Reclamation water and related resources, including inspection of canals in
urbanized areas

$900,000,000

Central Utah Project water programs

$50,000,000

California Bay-Delta restoration

$50,000,000

Non-Defense environmental cleanup

$483,000,000

Defense environmental cleanup

$5,127,000,000

Federal buildings and courthouses

$750,000,000

Border stations and land ports of entry

$300,000,000

Department of Homeland Security headquarters consolidation

$200,000,000

Customs and Border Protection non-intrusive inspection systems

$100,000,000

Customs and Border Protection tactical communications equipment and radios

$60,000,000

Border security fencing, infrastructure and technology

$100,000,000

Land border ports of entry construction

$420,000,000

Immigration and Customs Enforcement tactical communications equipment and radios

$20,000,000

Transportation Security Administration checked baggage and checkpoint explosives
detection machines

$1,000,000,000

Coast Guard shore facilities and aids to navigation facilities

$98,000,000

Coast Guard alteration of bridges

$142,000,000

FEMA public transportation and railroad security

$150,000,000

FEMA port security grants

$150,000,000

Bureau of Land Management maintenance and restoration of facilities, trails, lands,
abandoned mines and wells

$125,000,000

Bureau of Land Management construction of roads, bridges, trails and facilities,
including energy efficient retrofits

$180,000,000

Wildland fire management and hazardous fuels reduction

$15,000,000

U.S. Fish and Wildlife Service maintenance and construction on wildlife refuges and
fish hatcheries and for habitat restoration

$165,000,000

U.S. Fish and Wildlife Service roads, bridges and facilities, including energy efficient
retrofits

$115,000,000

National Park Service facilities and trails

$146,000,000

Historically black colleges and universities preservation

$15,000,000

National Park Service road construction, cleanup of abandoned mines on parkland and
other infrastructure

$589,000,000

U.S. Geological Survey facilities and equipment, including stream gages, seismic and
volcano monitoring systems and national map activities

$140,000,000

Bureau of Indian Affairs construction of roads, schools and detention centers

$450,000,000

Superfund site cleanup

$600,000,000

Leaking underground storage tank cleanup

$200,000,000

Clean water state revolving fund grants

$4,000,000,000

Safe drinking water capitalization grants

$2,000,000,000

Brownfields projects

$100,000,000

Diesel emission reduction grants and loans

$300,000,000

Forest Service road, bridge and trail maintenance; watershed restoration; facilities
improvement; remediation of abandoned mines; and support costs

$650,000,000

Wildfire mitigation

$500,000,000

Smithsonian Institution repairs

$25,000,000

Construction, renovation and acquisition of Job Corps Centers

$250,000,000

Social Security Administration’s National Computer Center replacement

$500,000,000

Military construction, Army – child development centers and warrior transition
complexes

$180,000,000

Military construction, Navy and Marine Corps – child development centers and warrior
transition complexes

$280,000,000

Military construction, Air Force – child development centers and warrior transition
complexes

$180,000,000

Military hospital construction and energy conservation investments

$1,450,000,000

Military construction, Army National Guard

$50,000,000

Military construction, Air National Guard

$50,000,000

Family housing construction, Army

$34,507,000

Family housing operation and maintenance, Army

$3,932,000

Family housing construction, Air Force

$80,100,000

Family housing operation and maintenance, Air Force

$16,461,000

Temporary expansion of military homeowner assistance program to respond to
mortgage foreclosure and credit crisis, including acquisition of property at or near
military bases that have been ordered closed.

$555,000,000

Veterans Affairs hospital maintenance

$1,000,000,000

National Cemetery Administration for monument and memorial repairs

$50,000,000

State extended care facilities, such as nursing homes

$150,000,000

State Department diplomatic and consular programs for domestic passport and training
facilities

$90,000,000

International Boundary and Water Commission – Rio Grande levee repairs

$220,000,000

Additional capital investments in surface transportation including highways, bridges,
and road repairs

$1,298,500,000

Administrative costs for additional capital investments in surface transportation

$200,000,000

Capital investments in surface transportation grants to be awarded by other
administration

$1,500,000

Federal Aviation Administration infrastructure

$200,000,000

Grants-in-aid for airports

$1,100,000,000

Highway infrastructure investment

$26,725,000,000

Highway infrastructure investment in Puerto Rico

$105,000,000

Highway infrastructure funds distributed by states

$60,000,000

Highway infrastructure funds for the Indian Reservation Roads program

$550,000,000

Highway infrastructure funds for surface transportation technology training

$20,000,000

Highway infrastructure to fund oversight and management of projects

$40,000,000

High speed rail capital assistance

$8,000,000,000

National Railroad passenger corporation capital grants

$850,000,000

National Railroad passenger corporation capital grants for security

$450,000,000

Federal Transit Administration capital assistance

$6,800,000,000

Public transportation discretionary grants

$100,000,000

Fixed guideway infrastructure investment

$750,000,000

Capital investment grants

$750,000,000

Shipyard grants

$100,000,000

Public housing capital improvements

$3,000,000,000

Public housing renovations and energy conservation investments

$1,000,000,000

Native American housing block grants

$510,000,000

Community development funding

$1,000,000,000

Emergency assistance for the redevelopment of abandoned and foreclosed homes

$2,000,000,000

Additional capital investments in low-income housing tax credit projects

$2,250,000,000

Homelessness prevention and re-housing

$1,500,000,000

Assistance to owners of properties receiving section 8 assistance

$2,000,000,000

Grants and loans for green investment in section 8 properties

$250,000,000

Lead hazard reduction

$100,000,000

Reprinted with permission from Pro Publica

Journalism in the public interest

TOP

The Stimulus Plan: The Tax Cuts

by Michael Grabell and Christopher Weaver, ProPublica – February 13, 2009 4:00 pm EST

Feb. 13, 10:55p.m.: This post was updated to reflect that the Senate voted for the stimulus package.

The House approved the economic stimulus plan Friday afternoon with a vote of 246 to 183, followed by the Senate with a vote of 60 to 38. Want to know what’s in it? You could read the 1,071-page gorilla that passed today. Or you could let us do the work for you. We’ve dissected the beast in two charts – one for spending, and one for taxes below.

Dollar amounts for the tax provisions are based on a 10-year period, estimated by the Joint Committee on Taxation. The committee uses this period because the effects of tax cuts may occur over several years. But the estimates reflect cuts made only for the years authorized by Congress. Most cuts are authorized for one or two years.

Category

Amount

Tax Relief for Individuals

$246,869,000,000

“Making Work Pay” Tax Credit. For 2009 and 2010, the bill would provide a refundable tax credit of up to $400 for working individuals and $800 for working families. This tax credit would be calculated at a rate of 6.2% of earned income, and would phase out for taxpayers with adjusted gross income in excess of $75,000 ($150,000 for married couples filing jointly). Taxpayers can receive this benefit through a reduction in the amount of income tax that is withheld from their paychecks, or through claiming the credit on their tax returns.

$116,199,000,000

Economic Recovery Payment to Recipients of Social Security, SSI, Railroad Retirement and Veterans Disability Compensation Benefits. The bill would provide a one-time payment of $250 to retirees, disabled individuals and SSI recipients receiving benefits from the Social Security Administration, Railroad Retirement beneficiaries, and disabled veterans receiving benefits from the Department of Veterans Affairs. The one-time payment is a reduction to the Making Work Pay credit.

$14,225,000,000

Refundable Credit for Certain Federal and State Pensioners. The bill would provide a one-time refundable tax credit of $250 in 2009 to certain government retirees who are not eligible for Social Security benefits. This one-time credit is a reduction to the Making Work Pay credit.

$218,000,000

Increase in Earned Income Tax Credit. The bill would temporarily increase the earned income tax credit for working families with three or more children. Under current law, working families with two or more children qualify for an earned income tax credit equal to 40% of the family’s first $12,570 of earned income. This credit is subject to a phase-out for working families with adjusted gross income in excess of $16,420 ($19,540 for married couples filing jointly). The bill would increase the earned income tax credit to 45% of the family’s first $12,570 of earned income for families with three or more children and would increase the beginning point of the phase-out range for all married couples filing a joint return (regardless of the number of children) by $1,880.

$4,663,000,000

Increase Eligibility for the Refundable Portion of Child Credit. The bill would increase the eligibility for the refundable child tax credit in 2009 and 2010. For 2008, the child tax credit is refundable to the extent of 15% of the taxpayer’s earned income in excess of $8,500. The bill would reduce this floor for 2009 and 2010 to $3,000.

$14,830,000,000

“American Opportunity” Education Tax Credit. The bill would provide financial assistance for individuals seeking a college education. For 2009 and 2010, the bill would provide taxpayers with a new tax credit of up to $2,500 of the cost of tuition and related expenses paid during the taxable year. Taxpayers will receive a credit based on 100% of the first $2,000 of tuition and related expenses (including books) paid during the year and 25% of the next $2,000 of tuition and expenses paid during the year. Forty percent of the credit would be refundable. This tax credit will be subject to a phase-out for taxpayers with adjusted gross income in excess of $80,000 ($160,000 for married couples filing jointly).

$13,907,000,000

Computers as Qualified Education Expenses in 529 Education Plans. Section 529 Education Plans are tax-advantaged savings plans that cover all qualified education expenses, including: tuition, room & board, mandatory fees and books. The bill counts computers and computer technology as qualified education expenses.

$6,000,000

Refundable First-time Home Buyer Credit. Last year, Congress provided taxpayers with a refundable tax credit that was equivalent to an interest-free loan equal to 10% of the purchase of a home (up to $7,500) by first-time home buyers. The provision applies to homes purchased on or after April 9, 2008 and before July 1, 2009. Taxpayers receiving this tax credit are currently required to repay any amount received under this provision back to the government over 15 years in equal installments, or, if earlier, when the home is sold. The credit phases out for taxpayers with adjusted gross income in excess of $75,000 ($150,000 in the case of a joint return). The bill eliminates the repayment obligation for taxpayers that purchase homes after Jan. 1, 2009, increases the maximum value of the credit to $8,000 and removes the prohibition on financing by mortgage revenue bonds and extends the availability of the credit for homes purchased before Dec. 1, 2009. The provision would retain the credit recapture if the house is sold within three years of purchase.

$6,638,000,000

Sales Tax Deduction for Vehicle Purchases. The bill provides all taxpayers with a deduction for state and local sales and excise taxes on the purchase of new cars, light truck, recreational vehicles, and motorcycles through 2009. This deduction is subject to a phase-out for taxpayers with adjusted gross income in excess of $125,000 ($250,000 in the case of a joint return).

$1,684,000,000

Temporary Suspension of Taxation of Unemployment Benefits. Under current law, all federal unemployment benefits are subject to taxation. The average unemployment benefit is about $300 per month. The proposal temporarily suspends federal income tax on the first $2,400 of unemployment benefits per recipient. Any unemployment benefits over $2,400 will be subject to federal income tax. This proposal is in effect for 2009.

$4,740,000,000

Extension of Alternative Minimum Tax Relief for 2009. The bill would provide more than 26 million families with tax relief in 2009 by extending AMT relief for nonrefundable personal credits and increasing the AMT exemption amount to $70,950 for joint filers and $46,700 for individuals.

$69,759,000,000

Tax Incentives for Businesses

$6,150,000,000

Extension of Bonus Depreciation. Businesses are allowed to recover the cost of capital expenditures over time according to a depreciation schedule. Last year, Congress temporarily allowed businesses to recover the costs of capital expenditures made in 2008 faster than the ordinary depreciation schedule would allow by permitting these businesses to immediately write-off 50% of the cost of depreciable property (e.g., equipment, tractors, wind turbines, solar panels and computers) acquired in 2008 for use in the United States. The bill would extend this temporary benefit for capital expenditures incurred in 2009.

$5,074,000,000

Election to Accelerate Recognition of Historic AMT/R&D Credits. Last year, Congress temporarily allowed businesses to accelerate the recognition of a portion of their historic alternative minimum tax or research and development credits in lieu of bonus depreciation. The amount that taxpayers may accelerate is calculated based on the amount that each taxpayer invests in property that would otherwise qualify for bonus depreciation. This amount is capped at 6% of historic AMT and R&D credits or $30 million, whichever is less. The bill would extend this temporary benefit through 2009.

$805,000,000

Extension of Enhanced Small Business Expensing. To help small businesses quickly recover the cost of certain capital expenses, small business taxpayers may elect to write-off the cost of these expenses in the year of acquisition in lieu of recovering these costs over time through depreciation. Until the end of 2010, small business taxpayers are allowed to write-off up to $125,000 (indexed for inflation) of capital expenditures subject to a phase-out once capital expenditures exceed $500,000 (indexed for inflation). Last year, Congress temporarily increased the amount that small businesses could write-off for capital expenditures incurred in 2008 to $250,000 and increased the phase-out threshold for 2008 to $800,000. The bill would extend these temporary increases for capital expenditures incurred in 2009.

$41,000,000

5-Year Carryback of Net Operating Losses for Small Businesses. Under current law, net operating losses (“NOLs”) may be carried back to the two taxable years before the year that the loss arises (the “NOL carryback period”) and carried forward to each of the succeeding 20 years after the year that the loss arises. For 2008, the bill would extend the maximum NOL carryback period from two years to five years for small businesses with gross receipts of $15 million or less.

$947,000,000

Delayed Recognition of Certain Cancellation of Debt Income. Under current law, a taxpayer generally has income where the taxpayer cancels or repurchases its debt for an amount less than its adjusted issue price. The amount of cancellation of debt income (“CODI”) is the excess of the old debt’s adjusted issue price over the repurchase price. Certain businesses will be allowed to recognize CODI over 10 years (defer tax on CODI for the first four or five years and recognize this income ratably over the following five years) for specified types of business debt repurchased by the business after Dec. 31, 2008 and before Jan. 1, 2011.

$1,622,000,000

Incentives to Hire Unemployed Veterans and Disconnected Youth. Under current law, businesses are allowed to claim a work opportunity tax credit equal to 40% of the first $6,000 of wages paid to employees of one of nine targeted groups. The bill would create two new targeted groups of prospective employees: unemployed veterans and disconnected youth. An individual would qualify as an unemployed veteran if they were discharged or released from active duty from the Armed Forces during the five-year period prior to hiring and received unemployment compensation for more than four weeks during the year before being hired. An individual qualifies as a disconnected youth if they are between the ages of 16 and 25 and have not been regularly employed or attended school in the past 6 months.

$231,000,000

Small Business Capital Gains. Current law provides a 50% exclusion for the gain from the sale of certain small business stock held for more than five years. The amount of gain eligible for the exclusion is limited to 10 times the taxpayer’s basis in the stock or $10 million gain from stock in that small business corporation, whichever is greater. This provision is limited to individual investments and not the investments of a corporation. The non-excluded portion is taxed at ordinary income rates or 28%, whichever is less, instead of the lower capital gains rates for individuals. The provision allows a 75% exclusion for individuals on the gain from the sale of certain small business stock held for more than five years. This change is for stock issued after the date of enactment and before Jan. 1, 2011.

$829,000,000

Temporary Small Business Estimated Tax Payment Relief. The bill reduces the 2009 required estimated tax payments for certain small businesses.

$0

Temporary Reduction of S Corporation Built-In Gains Holding Period from 10 Years to 7 Years. Under current law, if a taxable corporation converts into an S corporation, the conversion is not a taxable event. However, following such a conversion, an S corporation must hold its assets for 10 years to avoid a tax on any built-in gains that existed at the time of the conversion. The bill would temporarily reduce this holding period from 10 years to seven years for sales occurring in 2009 and 2010.

$415,000,000

Repeal of Treasury Section 382 Notice. Last year, the Treasury issued Notice 2008-83, which liberalized rules in the tax code that are intended to prevent taxpayers that acquire companies from claiming losses that were incurred by the acquired company prior to the taxpayer’s ownership of the company. The bill would repeal this notice prospectively.

-$6,977,000,000

Treatment of Certain Ownership Changes. The bill would clarify the application of section 382 to certain companies restructuring pursuant to the Emergency Economic Stabilization Act of 2008.

$3,163,000,000

Business

$3,540,000,000

Industrial Development Bonds (IDB). Under current law, certain manufacturing facilities are eligible for tax exempt bond financing. The definition of a manufacturing facility is limited for the purposes of such financing to facilities that are used in the manufacturing or production of tangible personal property. The proposal amends the definition of manufacturing facility to any facility used in the manufacturing, creation or production of tangible or intangible property. Intangible property is any patent, copyright, formula, process, design, pattern, knowhow, format or other similar item. The proposal also clarifies which physical components of a manufacturing facility qualify as ancillary and therefore are subjected to a 25% limitation in the amount of bond issuance used to build or re-construct those components.

$203,000,000

Expands assistance programs for service sector workers affected by outsourcing to all countries, including China and India; increases training funds to states by 160% to $575 million per year; and reauthorized all trade assistance programs, which expired in 2007, through Dec. 31, 2010

$1,600,000,000

Prohibits Customs and Border Protection from demanding that lumber, steel and other companies repay duties that CBP collected on Canadian and Mexican imports and then gave to the companies between 2001 and 2005

$90,000,000

Advanced Energy Investment Credit. The proposal establishes a new 30% investment tax credit for facilities engaged in the manufacture of advanced energy property. Credits are available only for projects certified by the Treasury secretary, in consultation with the Energy secretary, through competitive bidding. The Treasury must establish a certification program no later than 180 days after date of enactment and may allocate up to $2.3 billion in credits. Advanced energy property includes technology for the production of renewable energy, energy storage, energy conservation, efficient transmission and distribution of electricity and carbon capture and sequestration.

$1,647,000,000

Other Tax Relief

$6,858,000,000

New Markets Tax Credit. Under current law, there are $3.5 billion of new markets tax credits (NMTC) available for each of 2008 and 2009. The provision increases the available credits for 2008 to $5 billion and the available credits for 2009 to $5 billion.

$815,000,000

Recovery Zone Bonds. The bill would create a new category of tax credit bonds for investment in economic recovery zones. The bill would authorize $10 billion in recovery zone economic development bonds and $15 billion in recovery zone facility bonds. These bonds could be issued during 2009 and 2010. Each state would receive a share of the national allocation based on that state’s job losses in 2008 as a percentage of national job losses in 2008 (each state will receive a minimum allocation of these bonds). These allocations would be sub-allocated to local municipalities. Municipalities receiving an allocation of these bonds would be permitted to use these bonds to invest in infrastructure, job training, education and economic development in areas within the boundaries of the state, city or county (as the case may be) that has significant poverty, unemployment or home foreclosures.

$5,371,000,000

Treasury Department Low-Income Housing Grants in Lieu of Tax Credits. Under current law, taxpayers are allowed to claim a low-income housing tax credit for certain investments made in low-income housing. These tax credits help attract private capital to invest in the construction, acquisition or rehabilitation of qualified low-income housing buildings. Current economic conditions have severely undermined the effectiveness of these tax credits. As a result, the bill would allow taxpayers to receive a grant from the Treasury in lieu of tax credits. Under this provision, state housing agencies would receive a grant equal to up to 85% of 40% of the state’s low-income housing tax credit allocation in lieu of the low-income housing tax credits they would have received. The sub-awards are subject to the same requirements (including rent, income and use restrictions on such buildings) as the low-income housing tax credit allocations. The grant program would apply to each state’s 2009 low-income housing tax credit allocation.

$69,000,000

Tribal Economic Development Bonds. Under current law, tribal governments are limited in their ability to issue tax-exempt bonds. Projects funded by bonds issued by tribal governments must satisfy an “essential governmental function” requirement. This requirement is not imposed on projects funded by bonds issued by state and local governments and can limit the ability of tribal governments to use tax-exempt bonds for economic development. The bill would temporarily allow tribal governments to issue $2 billion in tax-exempt bonds for projects without this restriction in order to spur economic development on tribal lands. It would also require the Treasury secretary study whether this restriction should be repealed on a permanent basis.

$315,000,000

Modify Speed Requirement for High-Speed Rail Exempt Facility Bonds. Under current law, states are allowed to issue private activity bonds for high-speed rail facilities. Under current law, a high-speed rail facility is a facility for the transportation of passengers between metropolitan areas using vehicles that are reasonably expected to operate at speeds in excess of 150 miles per hour between scheduled stops. The bill would allow these bonds to be used to develop rail facilities that are used by such trains.

$288,000,000

Infrastructure Financing Tools

$19,350,000,000

De Minimis Safe Harbor Exception for Tax-Exempt Interest Expense for Financial Institutions. Under current law, financial institutions are not allowed to take a deduction for the portion of their interest expense that is allocable to such institution’s investments in tax-exempt municipal bonds. In determining the portion of interest expense that is allocable to investments in tax-exempt municipal bonds, the bill would exclude investments in tax-exempt municipal bonds issued during 2009 and 2010 to the extent that these investments constitute less than 2% of the average adjusted bases of all the assets of the financial institution. (*The cost is included in the next provision, Modification of Small Issuer Exception….)

$0

Modification of Small Issuer Exception to Tax-Exempt Interest Expense Allocation Rules for Financial Institutions. As described above, financial institutions are not allowed to take a deduction for the portion of their interest expense that is allocable to such institution’s investments in tax-exempt municipal bonds. For purposes of this rule, bonds that are issued by a “qualified small issuers” are not taken into account as investments in tax-exempt municipal bonds. Under current law, a “qualified small issuer” is defined as any issuer that reasonably anticipates that the amount of its tax-exempt obligations (other than certain private activity bonds) will not exceed $10,000,000. The bill would increase this dollar threshold to $30,000,000 when determining whether a tax-exempt obligation issued in 2009 and 2010 qualifies for this small issuer exception. The small issuer exception would also apply to an issue if all of the ultimate borrowers in such issue would separately qualify for the exception. For these purposes, the issuer of a qualified 501(c)(3) bond shall be deemed to be the ultimate borrower on whose behalf a bond was issued.

$3,234,000,000

Eliminate Costs Imposed on State and Local Governments by the Alternative Minimum Tax. The alternative minimum tax (AMT) can increase the costs of issuing tax-exempt private activity bonds imposed on state and local governments. Under current law, interest on tax-exempt private activity bonds is generally subject to the AMT. This limits the marketability of these bonds and, therefore, forces state and local governments to issue these bonds at higher interest rates. Last year, Congress excluded one category of private activity bonds (i.e., tax-exempt housing bonds) from the AMT. The bill would exclude the remaining categories of private activity bonds from the AMT if the bond is issued in 2009 or 2010. The bill also allows AMT relief for current refunding of private activity bonds issued after 2003 and refunded during 2009 and 2010.

$555,000,000

Delay Application of Withholding Requirement on Certain Governmental Payments for Goods and Services. For payments made after Dec. 31, 2010, the code requires withholding at a 3% rate on certain payments to persons providing property or services made by federal, state and local governments. The withholding is required regardless of whether the government entity making the payment is the recipient of the property or services (those with less than $100 million in annual expenditures for property or services are exempt). Numerous government entities and small businesses have raised concerns about the application of this provision. The provision would delay for one year (through Dec. 31, 2011) the application of the withholding requirement on government payments for goods and services in order to provide time for the Treasury to study the impact of this provision on government entities and other taxpayers.

$291,000,000

Qualified School Construction Bonds. The bill creates a new category of tax credit bonds for the construction, rehabilitation or repair of public school facilities or for the acquisition of land on which a public school facility will be constructed. There is a national limitation on the amount of qualified school construction bonds that may be issued by state and local governments of $22 billion ($11 billion allocated initially in 2009 and the remainder allocated in 2010). There is a national limitation on the amount of qualified school construction bonds that may be issued by Indian tribal governments of $400 million ($200 million allocated initially in 2009 and the remainder allocated in 2010).

$9,877,000,000

Extension and Increase in Authorization for Qualified Zone Academy Bonds (QZABs). The bill would allow an additional $1.4 billion of QZAB issuing authority to state and local governments in 2009 and 2010, which can be used to finance renovations, equipment purchases, developing course material and training teachers and personnel at a qualified zone academy. In general, a qualified zone academy is any public school (or academic program within a public school) below college level that is located in an empowerment zone or enterprise community and is designed to cooperate with businesses to enhance the academic curriculum and increase graduation and employment rates. QZABs are a form of tax credit bonds which offer the holder a federal tax credit instead of interest.

$1,045,000,000

Tax Credit Bond Option for State and Local Governments (“Build America Bonds”). The federal government provides significant financial support to state and local governments through the federal tax exemption for interest on municipal bonds. Both tax credit bonds and tax-exempt bonds provide a subsidy to municipalities by reducing the cash interest payments that a state or local government must make on its debt. Tax credit bonds differ from tax-exempt bonds in two principal ways: interest paid on tax credit bonds is taxable and a portion of the interest paid on tax credit bonds takes the form of a federal tax credit. The federal tax credit offsets a portion of the cash interest payment that the state or local government would otherwise need to make on the borrowing. For 2009 and 2010, the bill would provide state and local governments with the option of issuing a tax credit bond instead of a tax-exempt governmental obligation bond. Because the market for tax credits is currently small given current economic conditions, the bill would allow the state or local government to elect to receive a direct payment from the federal government equal to the subsidy that would have otherwise been delivered through the federal tax credit for bonds.

$4,348,000,000

Renewable Energy Tax Credits

$19,968,000,000

Long-term Extension and Modification of Renewable Energy Production Tax Credit. The bill would extend the placed-in-service date for wind facilities for three years (through Dec. 31, 2012). The bill would also extend the placed-in-service date for three years (through Dec. 31, 2013) for certain other qualifying facilities: closed-loop biomass, open-loop biomass, geothermal, small irrigation, hydropower, landfill gas, waste-to-energy and marine renewable facilities.

$13,143,000,000

Temporary Election to Claim the Investment Tax Credit in Lieu of the Production Tax Credit. Under current law, facilities that produce electricity from solar facilities are eligible to take a 30% investment tax credit in the year that the facility is placed in service. Facilities that produce electricity from wind, closed-loop biomass, open-loop biomass, geothermal, small irrigation, hydropower, landfill gas, waste-to-energy and marine renewable facilities are eligible for a production tax credit. The production tax credit is payable over a 10-year period. Because of current market conditions, it is difficult for many renewable projects to find financing due to the uncertain future tax positions of potential investors in these projects. The bill would allow facilities to elect to claim the investment tax credit in lieu of the production tax credit.

$285,000,000

Repeal Subsidized Energy Financing Limitation on the Investment Tax Credit. Under current law, the investment tax credit must be reduced if the property qualifying for the investment tax credit is also financed with industrial development bonds or through any other federal, state, or local subsidized financing program. The bill would repeal this subsidized energy financing limitation on the investment tax credit in order to allow businesses and individuals to qualify for the full amount of the investment tax credit even if such property is financed with industrial development bonds or through any other subsidized energy financing. (*Cost of this is included in the next provision, Removal of Dollar Limitations on Certain Energy Credits)

$0

Removal of Dollar Limitations on Certain Energy Credits. Under current law, businesses are allowed to claim a 30% tax credit for qualified small wind energy property (capped at $4,000). Individuals are allowed to claim a 30% tax credit for qualified solar water heating property (capped at $2,000), qualified small wind energy property (capped at $500 per kilowatt of capacity, up to $4,000), and qualified geothermal heat pumps (capped at $2,000). The bill would repeal the individual dollar caps. As a result, each of these properties would be eligible for an uncapped 30% credit.

$872,000,000

Clean Renewable Energy Bonds. The bill authorizes an additional $1.6 billion of new clean renewable energy bonds to finance facilities that generate electricity from the following resources: wind, closed-loop biomass, open-loop biomass, geothermal, small irrigation, hydropower, landfill gas, marine renewable and trash combustion facilities. This $1.6 billion authorization will be subdivided into thirds: 1/3 will be available for qualifying projects of state/local/tribal governments; 1/3 for qualifying projects of public power providers; and 1/3 for qualifying projects of electric cooperatives.

$578,000,000

Qualified Energy Conservation Bonds. The bill authorizes an addition $2.4 billion of qualified energy conservation bonds to finance state, municipal and tribal government programs and initiatives designed to reduce greenhouse gas emissions. The bill would also clarify that qualified energy conservation bonds may be issued to make loans and grants for capital expenditures to implement green community programs. The bill also clarifies that qualified energy conservation bonds may be used for programs in which utilities provide ratepayers with energy-efficient property and recoup the costs of that property over an extended period of time.

$803,000,000

Tax Credits for Energy-Efficient Improvements to Existing Homes. The bill would extend the tax credits for improvements to energy-efficient existing homes through 2010. Under current law, individuals are allowed a tax credit equal to 10% of the amount paid or incurred by the taxpayer for qualified energy efficiency improvements installed during the year. This tax credit is capped at $50 for any advanced main air circulating fan, $150 for any qualified natural gas, propane, oil furnace or hot water boiler and $300 for any item of energy-efficient building property. For 2009 and 2010, the bill would increase the amount of the tax credit to 30% of the amount paid or incurred by the taxpayer for qualified energy efficiency improvements during the year. The bill would also eliminate the property-by-property dollar caps on this tax credit and provide an aggregate $1,500 cap on all property qualifying for the credit. The bill would update the energy-efficiency standards of the property qualifying for the credit.

$2,034,000,000

Tax Credits for Alternative Refueling Property. The alternative refueling property credit provides a tax credit to gas stations that install alternative fuel pumps, such as fuel pumps that dispense E85 fuel, electricity, hydrogen and natural gas. For 2009 and 2010, the bill would increase the 30% alternative refueling property credit for businesses (capped at $30,000) to 50% (capped at $50,000). Hydrogen refueling pumps would remain at a 30% credit percentage; however, the cap for hydrogen refueling pumps will be increased to $200,000. In addition, the bill would increase the 30% alternative refueling property credit for individuals (capped at $1,000) to 50% (capped at $2,000).

$54,000,000

Plug-in Electric Drive Vehicle Credit. The bill modifies and increases a tax credit passed into law at the end of last Congress for plug-in electric drive vehicles placed in service during the year. The base amount of the credit is $2,500. If the qualified vehicle draws propulsion from a battery with at least 5 kilowatt hours of capacity, the credit is increased by $417, plus another $417 for each kilowatt hour of battery capacity in excess of 5 kilowatt hours up to 16 kilowatt hours. Taxpayers may claim the full amount of the allowable credit up to the end of the first calendar quarter in which the manufacturer records its 200,000th sale of a plug-in electric drive vehicle. The credit is reduced in following calendar quarters. The credit is allowed against the alternative minimum tax (AMT). The bill also restores and updates the electric vehicle credit for plug-in electric vehicles that would not otherwise qualify for the larger plug-in electric drive vehicle credit and provides a tax credit for plug-in electric drive conversion kits.

$2,002,000,000

Addition of Permanent Sequestration Requirement to CO2 Capture Tax Credit. Last year, Congress provided a $10 credit per ton for the first 75 million metric tons of carbon dioxide captured and transported from an industrial source for use in enhanced oil recovery and $20 credit per ton for carbon dioxide captured and transported from an industrial source for permanent storage in a geologic formation. Facilities were required to capture at least 500,000 metric tons of carbon dioxide per year to qualify. The bill would require that any taxpayer claiming the $10 credit per ton for carbon dioxide captured and transported for use in enhanced oil recovery must also ensure that such carbon dioxide is permanently stored in a geologic formation.

$0

Parity for Transit Benefits. Current law provides a tax-free fringe benefit employers can provide to employees for transit and parking. Those benefits are set at different dollar amounts. This provision would equalize the tax-free benefit employers can provide for transit and parking. The proposal sets both the parking and transit benefits at $230 a month for 2009, indexes them equally for 2010 and clarifies that certain transit benefits apply to federal employees.

$192,000,000

Treasury Department Energy Grants in Lieu of Tax Credits. Under current law, taxpayers are allowed to claim a production tax credit for electricity produced by certain renewable energy facilities and an investment tax credit for certain renewable energy property. These tax credits help attract private capital to invest in renewable energy projects. Economic conditions have undermined the effectiveness of these tax credits. As a result, the bill would allow taxpayers to receive a grant from the Treasury Department in lieu of tax credits. This grant will operate like the current-law investment tax credit. The Treasury Department will issue a grant in an amount equal to 30% of the cost of the renewable energy facility within 60 days of the facility being placed in service or, if later, within 60 days of receiving an application for such grant.

$5,000,000

Aid to State and Local Governments

$95,136,000,000

One-time grants to encourage states to increase unemployment coverage; also for administrative costs

$2,975,000,000

Temporarily waives interest payments on loans received by state unemployment trust funds through Dec. 31, 2010

$1,100,000,000

Extends unemployment for 13 weeks to railroad workers not included in the federal/state unemployment system and provide aid to states for the administration of this program

$159,000,000

Creates a capped, temporary Temporary Assistance for Needy Families fund to help states during the recession

$2,418,000,000

Provides additional aid to states with high population growth and increased poverty

$319,000,000

Repeals cuts to child support enforcement

$1,000,000,000

Medicaid increase for states

$86,600,000,000

Increases state hospital payments by 2.5%

$460,000,000

Extends a moratorium on Medicaid regulations for case management, provider taxes and school-based administration and transportation services through June 30, 2009

$105,000,000

Health Care

$20,352,000,000

Eliminates cost-sharing for American Indians and Alaska natives in Medicaid, protects tribal property and maintains access to Indian health facilities

$134,000,000

Temporarily applied Medicaid prompt payment requirements for nursing facilities and hospitals

$680,000,000

Health information technology

$19,200,000,000

Medicare payments for teaching hospitals

$191,000,000

Medicare payments for hospices

$134,000,000

Medicare payments to long-term care hospitals

$13,000,000

Aid to People Affected by the Economic Downturn

$62,310,000,000

Extension of Emergency Unemployment Compensation. Through Dec. 31, 2009, the bill continues the emergency unemployment compensation program, which provides up to 33 weeks of extended unemployment benefits to workers exhausting their regular benefits.

$26,960,000,000

Increases weekly unemployment benefits by an additional $25 through 2009

$8,800,000,000

Extends transitional medical assistance from June 30, 2009 to Dec. 31, 2010

$1,300,000,000

Extends the qualified individual program, which assists low-income individuals with Medicare Part B premiums through Dec. 31, 2010

$550,000,000

Premium subsidies for COBRA continuation for unemployed workers

$24,700,000,000

Reprinted with permission from Pro Publica

Journalism in the Public Interest

TOP

Tea Party Planning

This information provided by The Conservative Revolution

How to Organize Your Own “Tea Party” Protest

The internet is abuzz with chatter about organizing protests around the country to put an end to this madness on Wall Street and Pennsylvania Avenue. But I’ve talked to many people out there who have never organized a protest, and so they don’t have a clue where to begin. Here are 10 simple steps that you can follow to organize a protest in your own community. If you want more help, just send me an email at bsteinhauser@freedomworks.org and I’ll work with you one on one to help make your protest a success.

1. Pick a location, date and time in your town. I’d suggest main street at an intersection with lots of traffic.

2. Tell your friends, family, co-workers and everyone else you know about the protest. Build an rsvp email list so that you can provide quick updates if something changes. You should also create a facebook group so that the group can communicate with one another.

3. Make 5-10 signs with legible slogans that send a clear message to the public and the media. Write in BIG LETTERS.

4. Call your local talk radio hosts and ask them to announce the location, date and time on the air for a few days leading up to the protest. Send a letter to the editor of your local newspaper announcing the protest. Email the bloggers in your area and ask them to post a notice about the protest.

5. Write a press release and email, mail and fax copies to the local tv stations, radio stations and newspapers. Call the reporters that cover local events or politics and leave messages on their voice mail.

6. On the day of your protest, show up with your group, be loud, visible, happy and engage the public. Wave your signs, make lots of noise and move around to get attention. If reporters interview you, give them some good sound bytes for their stories. Stay on message and keep your answers short and coherent.

7. Bring sign-in sheets to capture the names, emails and phone numbers of everyone who attends the protest and/or says that they support what you are doing. You will then have a big list of people that can plan the next, much bigger and louder, event. Also bring handouts with one page of quick facts about why you are protesting in the first place.

8. Add your pictures, video and an after-action report to your facebook group, and send this stuff to the bloggers and reporters that you originally contacted. Ask them to post the photos, story and video.

9. Thank everyone who attended via email and phone, and set up a meeting to plan your next event. Now you have a list of people in your community that can help make the next protest huge. Encourage everyone to commit to bring at least one friend to the next protest.

10. Organize a carpool and go find a friend in your neighboring town or county and help them organize a protest there. You and your people are now veterans and should be able to keep the momentum going around your area.

Email me if you have any questions or want some ideas for signs. bsteinhauser @freedomworks.org Good luck!

It does not require a majority to prevail, but rather an irate, tireless minority keen to set brush fires in people’s minds. — Samuel Adams

This information provided by Freedom Works

Sign Making Tips & Slogans

Sign Making Tips:

  1. Choose large pieces of white poster board or foam board. Colored pieces make text harder to read.
  2. Decide on a slogan. Try to stick to short phrases. Avoid obscure references and the funnier the better – those will be memorable.
  3. Sketch out the slogan in pencil – make sure the letters are large enough to read, your text should use the entire space.
  4. Slogans should be written in a combination of upper and lower case letters – all caps arehard to read. Use them sparingly for emphasis.
  5. Using broad-tipped markers, write your slogan in broad letters. Sometimes it helps to write it first and then go over it again to make it thicker. It’s okay if it looks homemade – that’s because it is. I like to use mostly black – it’s easiest to read.
  6. Underline, bold, or use another color for words you want to stand out.
  7. If you know someone who is good at writing in block letters and if you know you aren’t good at it then leave it to them. They will probably make great signs instinctively and you can focus on signing people up and shouting.
  8. Sometimes, if there is a picture or image that helps your argument, you can use it on your sign. Just make sure it is large enough to see from a distance and fairly simple so that it doesn’t obscure your words. But don’t spend a lot of time worrying about it – the words are the most important thing.
  9. Make sure that every sign has the name and website of your organization or event so that people walking by know where to get more information and who you are with.
  10. Have fun and be creative. Send pictures to FreedomWorks.

Sign Slogans:

  • Freedom Works
  • You can’t spend your way out of debt.
  • The government’s dumb, the market’s rational.
  • Yes we can – stop the bailouts!
  • Money doesn’t grow on trees, some of us work for it.
  • Bailouts + Debt = fiscal child abuse
  • Stop Spending, Start Cutting
  • Why don’t you cut my taxes instead?
  • Promote responsibility, no more bailouts!
  • Let the markets work
  • Stop rewarding failure.
  • Save the children – stop spending their money
  • Give me liberty or give me debt.
  • Who will bail out the government?
  • I will not pay for someone else’s house.
  • I don’t want your debt.
  • Stop punishing success.
  • You can’t multiply wealth by dividing it.
  • Redistribution just means less for everyone.
  • USSA
  • Your pork broke my piggy bank
  • We the people want our money back
  • Socialism – not the change we need!
  • No bailouts.
  • FreedomWorks – Bailouts Hurt
  • Freedom – A stimulus we can afford
  • Let the Failures Fail
  • From each according to the IRS….to Pelosi, Reid, and ACORN.

This information provided by Tea Party Revolution

Tips for a Successful Tea Party

Advertise your event with the people who know and trust you the most: your friends and family via email. Make your email short, personal and to the point. Ensure they know what you need from them and make sure it has perfect spelling and grammar. Provide them with guidance if they can’t attend and that you need them to pass the email on the at least 10 or more people.

If you have a website, provide details about what needs to be done. If you need somebody to post flyers, for example, let them know. You need to let people know what kind of help you need. Be specific in your needs and how long it will take.

Make a distribution list of people helping you. This is easy to do with most email applications. Email your contacts once a week with updates and keep it positive; don’t kill them with emails… keep it to once a week. Keep them in the loop, they deserve it.

Ask them for feedback. The best ideas will come from them and the majority of your success certainly will. You need to engage them and their vast array of talent.

Identify those who are internet savvy. These folks can help your ‘digital store front’ be a success…. or not. There are many IT folks who can make big changes in the twenty first century and they’re on your side. Engage them and use their talents.

Get volunteers to identify local internet forums and chat rooms to advertise your event. Local colleges, papers and television outlets will sponsor political forums to advertise your event. Ensure you have a consistent, positive message.

Never engage in negative conversations with those who oppose you. Always keep your message focused on the principles of our republic and freedom of speech and you will attain victory in 100% of your discussions.

This information provided by InstaPundit.com

Tea Party Tips From a Tea Partier in Overland Park, KS

I attended the invigorating protest outside Congressman Dennis Moore’s Overland Park, Kansas office yesterday.

I hoped 10-15 souls might show up. I was thrilled to see hundreds. Here are some suggestions. I don’t really want my name used. Sadly, it could really hurt my business, which is already hurting.

As a professional media producer, here are my concerns:

1. Incoherent message – the signs were all over the place. There were lots of agendas. That’s fine. The color and signage look good on TV.

But, when it came to the microphone – the overall message was tepid and unsure.

2. Create a theme – like “We want Senator So-and-So to resign for voting for this bill.” Or, “We want the Stimulus Repealed!” “Start Over.” Have a definitive purpose to your Assembly. A central theme will also help public speakers to focus. And don’t be afraid to personalize this. Put it on your Senators, Congress people, and the President. That’s what they are doing to anyone who objects.

3. Speakers not prepared for the media – the organizer was asked to name some specific objectionable items in the stimulus. She couldn’t do it. I doubt many of us could.

If you are an organizer, or the “face” of the event – take an hour to prepare. You don’t need to know everything about the stimulus. Just find 2 or 3 things – hard facts – you can point to and credibly say – these are wrong, wasteful spending items. Or, these items grow government, not the economy. It is critical.

4. Pass out talking points, just in case Joe or Jane Protestor gets buttonholed by a reporter.

5. This is all about image. If we don’t present the media with a professional, organized and, unfortunately, scripted image, they are going to make their own, and it won’t be favorable.

6. Recruit some help to pack the area around people being interviewed for background. God love the guy in the crazy Uncle Sam suit, and we certainly need the Minute Men, but these folks will quickly become THE story because they are colorful or controversial i.e., Good TV. Welcome their support. Maybe give them a minute on the mic. But I recommend trying to pack in mainstream, boring looking, and diverse Americans around the camera. No offense to anyone. Anytime a TV camera comes out, a certain number and type of attention seeker will flock to it. Now is the time for Grandma and Grandpa, the Plumber, the Young Executive, and the Homeschooling Mom to flock to the camera as background. Don’t be shy. Remember, how do you want your cause to be presented by the media? As crazies? Or as Concerned Neighbors?

7. Have an Agenda and a Time. We’re going to Assemble at this Time. We’re going to have a Sign-In Table. We’re going to have a Sign-Making Area. We’re going to have speakers at 10:30. We’re going to March to the Senator’s Office at this time and demand she resign. We’re going to end with Chants, and a Call-to-Action for the next Protest. That, and Protestors want to know what’s going on. If they become unsure, they leave. Organization wins, and it also intimidates the opposition. And the opposition is going to start showing up.

8. Share the Day’s Agenda with the Media. You have to create your own press. The event in Overland Park was HUGE, but only one news station came out to cover it, and there’s not even a photo in today’s Sunday paper. Sell it to them. They love good stories.

That’s it. I hope this helpful. These things are only going to get bigger, and people need to realize that a great responsibility comes with this wonderful opportunity. Get a Message. And Get It Out.

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