More on the Recovery Bill's Impact on Illinois

By Kevin Robinson in News on Feb 6, 2009 3:22PM

Earlier this week the White House released its fact sheet (PDF, see page 27) on the "immediate, tangible impacts" of the American Recovery and Reinvestment Plan, Barack Obama's centerpiece legislation to address the economic crisis. Among the billions of dollars proposed to be pumped into the economy, Illinois would stand to benefit from transit and infrastructure projects, green jobs and a mix of tax credits and government benefit extensions.

Among Illinois' share of the legislation that the White House claims will go directly to the state includes:

• The creation or preservation of nearly 160,000 jobs, in the clean energy and health care sectors, and an estimate that 90% of those jobs will be in the private sector
• A tax cut of up to $1,000 for nearly 5 million families in the state
• Adding $100 a month to unemployment insurance for over 800,000 unemployed workers, and extending unemployment benefits to nearly 150,000 laid-off workers
• Funding to modernize over 400 public schools in the state

The legislation isn't without its critics, however, including former presidential candidate and Arizona Senator John McCain, who tried to add his own $421 billion tax cut plan to the bill. His bill would have cut the bottom two income tax brackets and lowered corporate income taxes, extended unemployment benefits and provide money to repair and replace military equipment worn out in Iraq and Afghanistan. The McCain plan was defeated in the Senate last night on a party-line vote.

Photo by Pantagrapher