Obama Signs the Stimulus Bill

Two days ago, President Obama signed the American Recovery and Reinvestment Act into law, a $787 billion economic stimulus package. The good news is that $79 billion will be spent on environmentally-friendly measures.

How the $79 billion will be spent

Renewable energy

• $14 billion in tax incentives for renewable energy facilities
  
• $6 billion for the Innovative Energy Loan Guarantee Program
  
• $1.6 billion in tax incentives for manufacturers of advanced energy
  
• $1.4 billion for energy-related state and local bonds
  
• $268 million to expand tax incentives for residential renewable energy properties
  
• $54 million in tax incentives for alternative fuel pumps
  

Mass transportation

• $9.3 billion for rail transportation
  
• $8.4 billion for public transportation
  
• $1.5 billion in competitive grants for state and local public transportation projects
  

Energy efficiency

• $6.3 billion for cities, counties and states to increase energy efficiency
  
• $5 billion to weatherize over one million homes of low-income families
  
• $4 billion to modernize public housing units
  
• $4.2 billion to make military bases more energy efficient
  
• $2 billion in tax credits for residential energy efficiency improvements
  
• $510 million to modernize 4,200 Native American housing units
  
• $300 million in rebates for energy-efficient appliances
  
• $250 million to make government-subsidized apartments energy efficient
  

Environmental clean-up

• $6 billion to clean up sites formerly used by the Defense Department
  
• $1.2 billion for EPA clean up programs, including Superfund
  

Alternative vehicles

• $2 billion in tax credits to encourage buying alternative vehicles
  
• $300 million to replace federal vehicles with hybrids and electric cars
  
• $2 billion for advanced car battery research
  

Research

• $2.5 billion for energy efficiency and renewable energy research
  
• $2 billion for research at the Department of Energy

For more information about the stimulus package:

Update on the Stimulus

Senators to Debate Stimulus Bill

House Passes Stimulus Package