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American Recovery and Reinvestment Act Overview

Key Federal Web Sites

Timing

  • Most projects need to have contracts signed by September 2010

Small Business

  • Delays 3% withholding on government contracts for one year
  • Extends bonus/accelerated depreciation for 2008 capital expenditures
  • Five-year carry back of net operating losses for small business

Green Buildings

  • $4.5 billion GSA green high performing buildings ($5.5 billion for GSA buildings total)
  • More than $8 billion for other federal buildings
  • More than $10 billion for green affordable housing
  • Up to $53.6 billion available for school modernization, plus $22 billion in school construction bonds

Energy Efficiency

  • $3.2 billion Energy Efficiency and Conservation Block Grants
  • Weatherization Assistance ($5 billion)
  • State Energy Program ($3.1 billion)

Transit

  • $8.5 billion for transit, capital assistance

Housing

  • First-time homebuyer tax credit increased to $8,000
  • Extends tax credit for energy efficiency in existing homes
 

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