Following the Stimulus Money to the States
This Friday morning, Washington is taking a brief pause. With Senate debate on the stimulus---or recovery---package set to begin next week, some analysts are digging deeper into the bill that passed the House earlier this week.
In particular, we're starting to see analyses of how the money in the House bill filters down to the state level. From the beginning, proponents of the package have been clear that the stimulus money would be appropriated on the federal and state levels. Understanding where the money will go is key for many industries-- chief among them cleantech and greentech-- who could ultimately become vendors to the federal or state government programs.
The Center for American Progress has introduced an informative online resource that delves into the breakdown, showing how much money each state stands to receive based on the bill. The Center is an advocacy group, of course, so the material should be consumed understanding that the authors support the stimulus plan.
Looking at the Center's interactive map, 18 states have ultimately been allocated more than $10 billion dollars, including California and Massachusetts. The data is based on the House bill, and everyone is expecting the Senate to make changes as the bill traverses the road to becoming a law.
The Center's analysis includes this brief review:
These state and local funds include direct tax cuts for working families; increased unemployment insurance and food stamps to help those most in need; new funding to equip the education system for the 21st century; additional funds for existing clean energy programs; state-level infrastructure projects; and assistance that is necessary to protect vital services such as Medicaid.
Many of the other programs in the recovery plan will be distributed through competitive grants to states and localities, or through funding formulas where it is not possible to make estimates at this stage. The remainder is for programs that are distributed at the federal level. It has not been possible to include these programs in our analysis.
For Massachusetts specifically, the Boston Globe today provides a more detailed analysis, which includes the Center's information and data from other sources. Massachusetts receives around $11 Billion based on the House bill, and $6.5 Billion of that amount is intended for spending (the rest will go to residents in the form of tax cuts, enhanced unemployment programs, etc.).
According to the Globe's analysis, $494 million of the appropriation is for roads and bridges and $194 is for rapid transit.
Here at Renewablog, we will do our best to continue to follow the money, noting where appropriations could benefit the cleantech and greentech industries.
Bibliography: "Stimulus bill would give state $11 billion," by Michael Kranish; Boston Globe; January 30, 2009; page A1.
Posted by Ross Levanto on January 30, 2009 at 8:15 AM
