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President Obama Signs American Recovery and Reinvestment Act Into Law

Stimulus Website Covers all Construction Programs On February 13, 2009, Congress passed the American Recovery and Reinvestment Act of 2009 (HR 1), and President Obama signed the bill at a ceremony in Denver on February 17.  The Act includes a total of $787.2 billion in spending and tax cuts, including $308 billion in appropriated spending, $269 million in direct spending (refundable portion of tax credits, Unemployment assistance, Medicaid reimbursement to states, etc.) and $211 billion in tax cuts.  AGC worked hard to ensure significant infrastructure investment was included in the plan and ultimately secured $140 billion in construction spending. Highlights include: $39.5 billion to local school districts for modernization or other purposes; $3.1 billion for repair, restoration and improvement of public facilities; $4.2 billion for facilities sustainment, restoration and modernization; $1.2 billion for the VA hospital and medical facility construction and improvements; $2.33 billion for Department of Defense Facilities; $4.5 billion for increased energy efficiency in federal buildings; $4.6 billion for the Corps of Engineers; $1 billion for the Bureau of Reclamation; $48 billion for transportation infrastructure; and $14.5 billion for environmental clean-up and clean water programs. AGC has updated its stimulus website to provide comprehensive information on what the final legislation signed by President Obama means for the construction industry.  Included on the site is a breakdown of construction spending by program, with as much detail as is currently available about how the money will be allocated, by whom, and if possible, how much will go to each state.  The site also includes analysis of the various tax provisions within the legislation that affect the construction industry and an overview of some of the policy implications of the legislation. The intent of the site (www.agc.org/stimulus) is to provide our members, and more broadly the construction community, the widest possible range of current information about the stimulus.  In addition, over the coming weeks we will be creating a new site, "Stimulus At Work," which will highlight the work our members are doing to help ensure the success of the stimulus package.