The Wall Street Journal reported today that it has completed its first in-depth look at the proposed $825 billion stimulus legislation--647 pages. Among items found are these:
- Approximately $30 billion is to be invested in fixing bridges or other highway projects.
- $40 billion is for broadband and electric grid development, airports and clean water projects.
- An estimated $20 billion is allocated for business tax cuts.
The Journal says that the above three items, totaling $90 billion, can be considered a growth stimulus. This amount equates to 12% of the total package.
The Journal maintains that other planned expenditures do not constitute a growth stimulus. As an example it cites the $252 billion allocated to help pay for Medicaid, unemployment benefits, food stamps and the earned income credit. The amount represents about 30% of the total.
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