What Are Some Good Economic Stimulus Plans?
by Guest Blogger, 1/13/2003
The chart in this article provides a comparison of some economic stimulus plans that have not come out of Congress. For a comparison of the Bush plan with Congressional plans, see this chart.
The chart in this article provides a comparison of some economic stimulus plans that have not come out of Congress. For a comparison of the Bush plan with Congressional plans, see this chart.
(Cost in Billions of Dollars)
| Economic Policy Institute ($175) | AFL-CIO Plan ($260 +) | Democratic Governors Association ($157) | National League of Cities ($145.5) | |
| State Relief | * One-time grants to states to offset financial crises and preserve health, education, law enforcement, and other critical services ($50)
* One-time grants to states for school repair and renovation ($25) |
* Provide states with fiscal relief to cover Medicaid costs, maintain and expand SCHIP, meet security needs, increase the Social Services Block Grant, and assist states in meeting federal education mandates ($85) | * Immediate one-time fiscal relief to states, including a temporary increase in the federal Medicaid contribution ($50) | * One-time grants to states to for school repairs and rennovation ($25)
* One-time grants to states for unmet homeland security/infrastructure needs ($10) * One-time grants to states for temporary increase in the federal Medicaid contribution ($10) * One-time grants to states for highway and transportation funding ($5) |
| Total State Relief: | $75 | $85 | $50 | $50 |
| Unemployment | * Federal extension of unemployment benefits and one-time grants to states to expand eligibility to part-time and low-income workers ($25) | * Same as EPI plan * Also suggests extension of health insurance benefits to unemployed workers, perhaps through subsidies for maintaining insurance ($25 +) |
* Immediate retroactive extension of unemployment benefits for 26 weeks
* Full reimbursement to states for costs * A six-month $50/month increase in SII benefits to low-income seniors |
* Federal extension of unemployment benefits ($10) |
| Total Unemployment Assistance: | $25 | $25 + | $19 | $10 |
| Tax Cuts | * One-time tax rebates of 3.5% of the first $15,000 in wages ($65) | * Same as EPI plan, or
* Flat rebates of $1,000 for low- and moderate-income workers |
* A 2.5% refundable tax rebate on the first $15,000 of wages, so every worker gets up to $375
* Tax incentives for small businesses to invest in technology * High-speed Internet access for rural and inner city underserved areas |
* One-time tax rebates of 3.5% of the first $15,000 in wages ($65) |
| Total Tax Cuts: | $65 | $65 - 150 | $75 | $65 |
| Job Creation and Infrastructure Investments | N/A | * Investments to rebuild the national industrial core
* Investments in transportation and transit system and infrastructure * Investments in building and refurbishing our drinking water and wastewater infrastructure * Investments to build, modernize and repair public schools ($185) |
* Direct investment into school construction and repairs and security upgrades to highway, port, airport, and borders | * One time grant for transitional job creation in cities and towns ($.5) |
| Total Cost, Job Creation, Infrastructure Investments: | N/A | Not costed out; some would be included in state grants | $13 | $.5 |
| Minimum Wage | Raise the minimum wage (Not included in cost) |
N/A | N/A | |
| Other Temporary Spending | Other one-time spending (some examples--hiring more teachers, training teachers, cleaning up superfund sites, accelerating investments in sewage treatment plants, etc.) ($10) |
N/A | N/A | * Local grants for first responders ($7)
* Local grants for rennovation of aging water infrastructure ($5) * Local grants for hiring and training law enforcement ($3) * Local grants for transportation projects ($2.5) * Local grants for funding HOME program ($1.5) * Local grants for emergency school repairs ($1) |
| Total Cost - Other Temporary Spending: | $10 | n/a | n/a | $20 |
