The House has Passed the Stimulus Package of $819 Billion-2
$125 billion is also to be spend to reinforce the public education. Normally the education sector is left for the state and regional government but this time federal government is also keen in the sector. $20 billion is going to be spend for the renovation of educational institutions. To avoid the lay offs in education sector $79 billion is to be given to the states. $13 billion has been proposed as extra fund for the high poverty areas. For special education programs $13 billion has been proposed.
To repair and construct the public housing, $5 billion has been proposed to spend. To help the unemployed persons during the financial meltdown $27 billion is to be spend as unemployment benefit. The unemployment benefit is being increased from $300 to $325 per week with the help of extra $9 billion. This plan is going to allow the unemployed to enroll in Medicaid (Health Program serving the poor). For the short time this will allow millions of unemployed workers to get the benefits of Medicaid.
The Democrats from the House and Senate are trying to have major changes in the legislation to help the unemployed due to the foreign competitions. The Trade Adjustment Assistance program that was formed in 1962, will be expanded to cover many more types of workers. The house bill will give 52.5% of fund through the normal annual Medicaid disbursements and the rest will be given under new bonus program to help the states with high unemployment rates.
Check the next part
First part of the report is available The House has Passed the Stimulus Package of $819 Billion-1
Categories:
Obama,
Stimulus Package
0 comments:
Post a Comment