Thursday, February 19, 2009

Stimulus Plan: Who it helps and How to benefit as a business or organization

Highlights of incentives to individuals & families:
 
Millions of workers can expect to see about $13 extra in their weekly paychecks
 
 
The $1,000 child tax credit would be extended to more low-income families that don't make enough money to pay income taxes, and poor families with three or more children will get an expanded Earned Income Tax Credit
 
 
First-time homebuyers who purchase their homes before Dec. 1 would be eligible for an $8,000 tax credit, and people who buy new cars before the end of the year can write off the sales taxes
 
 
 
For small business:
 
Additional $6 million to directly fund microloans this year
 
 
 
Areas of Contracting/Grant Opportunities for small business contractors and nonprofits
 
$225 million for general criminal justice grants for things such as youth mentoring programs
 
 
The law allocates $2 billion for the Byrne Justice Assistance Grant, a program that has funded after-school programs
 
 
$735 million for road repairs and maintenance
 
 
$8 billion of the fund could be used for other priorities, including modernization and renovation of schools and colleges
 
 
$5 billion is marked to help low-income homeowners make energy improvements
 
 
$20 billion aimed at "green" jobs to improve energy efficiency in schools and federal buildings
 
 
30 percent tax credit of up to $1,500 which can be used by homeowners to replace leaky windows or put more insulation into the attic