Stimulating reading: How the American Recovery and Reinvestment Act will work
The big fight in Congress this week will be over the proposed American Recovery and Reinvestment Act. This largest single spending bill since the New Deal weighs in at 736 pages. If passed, it will cost more than $838 billion, according to an analysis by the Congressional Budget Office. A breakdown by Forbes magazine shows where the money will go: safety net spending ($164 billion), making work pay tax cut ($144 billion), energy efficiency retrofitting and environmental spending ($90 billion), state stabilization fund ($79 billion, education spending ($79 billion), AMT fix ($70 billion), infrastructure spending ($54 billion), business tax cuts ($32 billion), health information technology ($18 billion) and research spending ($14 billion).