Friday, February 27, 2009

Utah's Stimulus Breakdown

Utah, a state with a population of 2,643,330 (according to the 2007 census estimate), will receive $1.5 billion in economic stimulus money (and another $1 billion in so-called tax breaks).
Utah's public schools will get nearly $390 million and special education programs will get $105 million.

Utah Medicaid will get an extra $278 million and the Utah Department of Transportation, which already has a list of projects for the funds, will get $213 million for upgrades to roads and bridges.

Among other programs slated to get funds is the state's food stamp program for $89 million; $30 million for energy programs and $1.1 million to the attorney general's office to fight Internet crime.
The plan is that Utah will get 32,000 new jobs. According to the White House, Utah will use this money for the following:

-- Providing a making work pay tax cut of up to $1,000 for 890,000 workers and their families.
-- Making 24,000 families eligible for a new American Opportunity Tax Credit.
-- Offering an additional $100 per month in unemployment insurance benefits to 74,000 workers in Utah who have lost their jobs in this recession, and providing extended unemployment benefits to an additional 14,000 laid-off workers.
-- Providing funding sufficient to modernize at least 43 schools.
-- Doubling renewable energy generating capacity over three years
-- Computerizing every American’s health record in five years.
-- Roads, bridges and mass transit systems projects.

The what's-in-it-for-Utah details of the The American Recovery and Reinvestment Act of 2009 can be found in the release by the Senate Democratic Party Committee.

Utah gets $567 for each resident; or $946 if you factor in the tax reductions evenly across all residents.

Stating it differently, its $49k for each new job; or $78k if you add in the tax cuts (to make it safe.)

The tax cuts will give the average bloke $8-10 per week. Will this be enough to affect the spending behavior for the average person? Will they go to a movie or dine out had they not had the extra money? Maybe; but probably not because they are not going to feel any richer.

Utah is getting the least amount of stimulus money per person per state, including the least amount of money per student ($344) -- 52nd place. Serves us right -- darn conservatives, Republicans, and child-producing Mormons. No shock to me since four of our five federal reps -- two Senators and three Reps (all Mormons BTW) -- voted against the package (the one voting for it was Democrat Jim Matheson (unfortunately, my rep).

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