American Recovery and Reinvestment Act Will Be Transparent

President Obama signed the American Recovery and Reinvestment Act, commonly referred to as Stimulus 2009, today in Denver. What no one saw coming, was the launch of a website to show everyone where the money is going, and who is getting funds.

Recovery.gov is already outlining key information as it relates to the stimulus package. The front page says 'Where is Your Money Going?' just above an explanation of the $787 billion stimulus plan. Obama wants all taxpayers to know where the money is going, and the website promises to carry out the American Recovery and Reinvestment Act with 'full transparency and accountability'.

As agencies become liable for reporting on how the funds they received are being used and disbursed, everyone with Internet access will be able to track the recovery funds. The website warns, however, that until the actual funds are disbursed, and used, you will not be able to see that information.

There is a link to the full stimulus bill, as well as an expected timeline. The timeline provides dates that agencies need to start reporting how they are using the stimulus plan's funds as well as when detailed financial reports will become available.

Watch President Obama on the website, in a video, where he talks about how you can track the progress of the stimulus plan. The brand new website even has a link to share your recovery story.

So where is the money going?

$288 billion - Tax Relief
$144 billion - State and Local Fiscal Relief
$111 billion - Infrastructure and Science
$81 billion - Protecting the Vulnerable
$59 billion - Health Care
$53 billion - Education and Training
$43 billion - Energy
$8 billion - Other

Unemployment Compensation alone will receive up to $400 million in funds. $250 million of that number is to be used for reemployment services for those individuals that receive the benefits. This amount also allows for an extra $25 per week claimed for each benefit recipient. The stimulus plan also extended the ending dates of the EUC signed into effect in 2008.

There is good news for retirees and seniors. Those receiving Social Security payments, and do not qualify for other aid, will receive a one time payment of $250.

Most workers will eventually see a few extra dollars in their paycheck each week as part of the $288 billion allotted for tax relief.

This website also has previous versions of the bill as it passed from the House to the Senate, prior to reaching an agreement. The language of the bill available on the White House website is the latest, and now, the passed version of the act.

sources:

http://www.whitehouse.gov
http://www.whitehouse.gov/the_press_office/ARRA_public_review/
http://www.recovery.gov/
http://www.recovery.gov/?q=content/share-your-experience
http://www.readthestimulus.org