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January 16, 2009

$825 Billion Proposed Stimulus Bill, $400 million for high-risk, high-payoff Energy

Via Greencarcongress: Democrats in the US House of Representatives unveiled their $825-billion recovery package, a combination of $550 billion in spending and $275 billion in tax cuts.
* $46.75 billion is to be directly applied to the transportation sector, including on-road, rail, air and maritime segments.
- Of the direct transportation money, $30 billion (64%) is targeted at highway and bridge construction.

* $11.77 billion going to boosting scientific research across many fields.
- $1.9 billion is targeted directly at the US Department of Energy for basic research into the physical sciences including high-energy physics, nuclear physics, and fusion energy sciences and improvements to DOE laboratories and scientific facilities
- $400 million is for the Advanced Research Project Agency-Energy to support high-risk, high-payoff research into energy sources and energy efficiency.

* $11 billion is to be applied for research and development, pilot projects, and federal matching funds for the Smart Grid Investment Program to modernize the electricity grid.
* Power grid upgrades to support increased use of renewables will get $32 billion.

* $8 billion for loans for renewable energy power generation and transmission projects is to be provided.

* the production tax credit, which was extended for one year last year after much partisan bickering, will receive a $20 billion boost and a multi-year extension for wind, geothermal, hydro, and bioenergy.

* Building retrofits to improve energy efficiency will get $16 billion.
* Carbon capture technologies will get $2.4 billion.
* Weatherizing middle-income homes will get $6 billion.

Venture beat also lists some other items getting funding

* $6.9 billion to help state and local governments become more energy efficient
* $6 billion for broadband and wireless services in underserved areas
* $430 million for small business loans
* $650 million to continue a coupon program to convert American televisions from analog to digital transmission





Full text of the 258 bill is here
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