a:27:{s:9:"weblog_id";s:1:"4";s:8:"entry_id";s:3:"390";s:6:"sticky";s:1:"n";s:14:"allow_comments";s:1:"n";s:16:"allow_trackbacks";s:1:"n";s:10:"entry_date";s:19:"2009-01-15 08:27 PM";s:15:"expiration_date";s:0:"";s:23:"comment_expiration_date";s:0:"";s:8:"category";a:2:{i:0;s:1:"4";i:1;s:2:"35";}s:9:"author_id";s:1:"2";s:10:"new_weblog";s:1:"4";s:6:"status";s:4:"open";s:14:"trackback_urls";s:0:"";s:18:"versioning_enabled";s:1:"y";s:5:"title";s:33:"Congress Reveals Stimulus Details";s:9:"url_title";s:33:"congress_reveals_stimulus_details";s:6:"submit";s:6:"Update";s:11:"field_id_26";s:39:"Congressional Reveals Stimulus Details ";s:11:"field_ft_26";s:4:"none";s:11:"field_id_31";s:0:"";s:11:"field_id_44";s:520:"On January 15, the House Democratic Leadership announced details of the American Recovery and Reinvestment Act. Details of the $825 billion package were released by the House Appropriations and Ways and Means Committees. The total package consists of $275 billion in economic recovery tax cuts and $550 billion in targeted investments, coupled with several unprecedented accountability measures. AGC estimates that approximately $150 billion of the spending proposed in this bill would benefit the construction industry.";s:11:"field_ft_44";s:4:"none";s:11:"field_id_28";s:66:"stimulus, House, package, American Recovery and Reinvestment Act. ";s:11:"field_ft_28";s:4:"none";s:11:"field_id_29";s:3257:"<p><span style=\"font-size: 12px; font-weight: bold; font-family: Helvetica,Arial,Verdana,sans-serif; color: #275c71;\"></span><span style=\"line-height: 8px;\"></span>On January 15, the House Democratic Leadership announced details of
the American Recovery and Reinvestment Act. Details of the $825 billion
package were released by the House Appropriations and Ways and Means
Committees. The total package consists of $275 billion in economic
recovery tax cuts and $550 billion in targeted investments, coupled
with several unprecedented accountability measures. AGC estimates that
approximately $150 billion of the spending proposed in this bill would
benefit the construction industry.</p>
<p>House Speaker Nancy Pelosi (D-Calif.), said today that she hoped
Congressional Committees would take up the bill late next week, with
the goal of sending a final product to the White House by mid-February.
According to House Appropriations Chairman Dave Obey (D-Wis.), this
package would create and save 3 to 4 million jobs and jumpstart our
economy.</p>
<p>In many instances, funds would be distributed through existing
formulas. How funds are spent, all announcements of contract and grant
competitions and awards, and formula grant allocations must be posted
on an open government web site. Governors, mayors or others making
funding decisions must personally certify that the investment has been
fully vetted and is an appropriate use of taxpayer dollars. A Recovery
Act Accountability and Transparency Board would also be created to
review management of recovery dollars and provide early warning of
problems. Federal and state whistleblowers who report fraud and abuse
are protected. Finally, there are no earmarks in this package.</p>
<p>The House Ways and Means Committee&rsquo;s $275 billion tax package would
provide tax, health and other benefits to American families, as well as
incentives for businesses to grow and create jobs.&nbsp; Highlights in the
package benefiting the construction industry include:</p>
<p>&bull;&nbsp;One-year deferral of the 3 percent withholding law from 2011 to 2012<br /> &bull;&nbsp;Bonus depreciation<br /> &bull;&nbsp;5-year carry-back of net operating losses<br /> &bull;&nbsp;Extension of increased small business expensing<br /> &bull;&nbsp;Repeal AMT limits on new private activity bonds<br /> &bull;&nbsp;School construction bonds<br /> &bull;&nbsp;Remove repayment requirement on $7,500 first-time homebuyer credit<br /> &bull;&nbsp;Tax exempt and tax credit bonds to &ldquo;recovery zones&rdquo; (i.e., areas of high unemployment, foreclosures or poverty)<br /> &bull;&nbsp;Various energy efficiency tax incentives and bonds</p>
<p>To view a copy of the House Appropriations Committee Plan, <a href=\"http://newsmanager.commpartners.com/agcnvws/downloads/House%20Approps%20Stimulus%2001-15-09.pdf\">click here</a>.</p>
<p>To view a copy of the House Ways and Means Committee Plan, <a href=\"http://newsmanager.commpartners.com/agcnvws/downloads/15taxstimulus.pdf\">click here</a>.</p>
<p>To view an analysis of the bill prepared by the Associated Genearl Contarctors, <a href=\"http://newsmanager.commpartners.com/agcnvws/downloads/House%20Stimulus%20Overview%20-%20AGC%20Chart.pdf\">click here</a>.&nbsp;</p>";s:10:"category_0";s:1:"4";s:10:"category_1";s:2:"35";}