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Reginald Avent,Realtor

Obama's Stimulus Bill effects Chicago,IL & South Suburbs

Economic Stimulus Information
Posted by Finance Department
March 19, 2009
On February 17, 2009, President Obama signed into law the American Recovery and Reinvestment Act of 2009. The "stimulus bill" represents the latest and largest effort by the federal government to boost the deteriorating economy. The ARRA's purpose is to preserve and create jobs and promote economic recovery by providing needed investments in transportation, environmental protection, and other infrastructure projects that will provide long-term economic benefits.

Mapping the stimulus money

Chicago-area residents to see major road improvements and a slight increase in their take-home pay

| Tribune staff reporter

The struggling U.S. economy is getting a $787 billion shot in the arm from a stimulus package designed to keep people working and money flowing. In the Chicago area, we're likely to see the effects of the plan when we maneuver past roadwork and when we look at our paychecks.

Two months after President Barack Obama signed the stimulus bill, the package is beginning to take shape. More than $50 billion in grants and projects have been approved, said a White House official who declined to be identified.

In Illinois, said U.S. Transportation Secretary Ray LaHood, "You're going to see an enormous number of people building roads and bridges, starting as soon as the weather breaks."

But the biggest slice of the stimulus plan has been more than $24 billion in grants to state Medicaid programs to help keep afloat state health insurance plans for the poor. And the U.S. Department of Health and Human Services also has approved grants of $492 million to community health clinics around the country, said Nick Pappas, a spokesman for HHS.

Below are links that provide more detailed information on the stimulus bill, including information on direct stimulus opportunities for individuals and businesses.

WEBSITES WITH MORE INFORMATION

Official White House web site tracking the use of stimulus funds
www.recovery.gov/

Tax Incentives and Grant Opportunities in the Stimulus Bill

IRS Information Related to the American Recovery and Reinvestment Act of 2009
www.irs.gov/newsroom/article/0,,id=204335,00.html?portlet=6

National Association for Home Builders
www.federalhousingtaxcredit.com/

Small Business Administration Website
http://www.sba.gov/localresources/district/ca/la/index.html

U.S. Department of the Treasury
www.ustreas.gov/

Illinois State Treasurer
www.treasure.il.gov/

The Federal Government website for finding and applying for federal grants
www07.grants.gov/

Other Government Sites with Economic Stimulus Information

U.S. Department of Housing & Urban Development
www.hud.gov/recovery/

U.S. Department of Energy
http://apps1.eere.energy.gov/wip/

U.S. Department of Labor website
www.dol.gov/

State of Illinois - Illinois Recovery
http://illinois.gov/recovery/

Other Organizations offering Economic Stimulus Information

The National Council of Nonprofits website
http://www.councilofnonprofits.org/stimulus

National League of Cities
http://www.nlc.org/

THOMAS, the Library of Congress' website
http://thomas.loc.gov/

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Published Monday, April 20, 2009 11:05 AM by Reginald Avent,Realtor

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Bryant S. said:

A well-written review. Whenever our financial institutions lower the credit limits, without the customer's consent or input, by the way, it isn't a happy thing for a lot of people.  It leads to higher interest rates, and when those credit limits get lowered it isn't good for small businesses that depend on the corporate credit card to pay bills and get crucial supplies.  Obama's stimulus and tax incentives haven't driven a lot of spending, banks won't lend, but the positive is that the personal saving rate is increasing, and some are taking the opportunity to get out of debt.  Lowering the <a rev="vote for" title="Credit Limits Lowered Forcing People to Look to Cash Advances" href="http://personalmoneystore.com/moneyblog/2009/06/02/credit-limits-lowered-forcing-people-cash-advances/">credit limits</a> leads a lot of people to look into a cash advance instead.

June 5, 2009 3:55 AM

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