President Obama paid a visit to House and Senate Republicans yesterday, trying to shore up support for the $825 billion economic stimulus bill. While the GOP has continued to express concern about the size of the package and a desire for more tax cuts, the President has shown a willingness to adapt, urging Democrats to cut $200 million for family planning.
Obama maintains that the American Recovery and Reinvestment Plan, which includes $550 billion in spending and $275 billion in tax cuts, will jump-start the economy while also investing in strategic long-term goals. However, some of the infrastructure spending will not happen until 2010. Major provisions include:
- Create or save 3 to 4 million jobs in two years.
- Spend at least 75 percent of the money within 18 months, including funds for tax cuts, health care for unemployed workers, temporary expansions of unemployment insurance and food stamps.
- Computerize every American's health record within five years, which will save billions in costs and reduce medical errors.
- Upgrade 10,000 schools, improving the learning environment for 5 million children.
- Invest in roads, bridges, mass transit systems.