Tax relief is a priority. See the eligible projects.
Here are some of the immediate benefits of the stimulus:
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Extends unemployment benefits through December 2009 (up to 33 weeks of benefits). This was scheduled to phase out in March 2009.
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Increases unemployment benefits for 20 million jobless workers by $25 per week.
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Improves health insurance for unemployed workers. Laid off workers using COBRA to extend their health insurance can get a 65% subsidy for COBRA premiums for up to 9 months.
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Allows refundable tax credit of up to $400 per worker. (This is phased out completely at $200,000 for couples filing jointly and $100,000 for single filers.)
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Increases higher education tax credit to a maximum of $2,500. Low income college students who didn't have access to the higher education tax credit in the past can get partial refunding.
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Increases Pell Grants available to students by $500 for a maximum of $5,350 in 2009 and $5,550 in 2010.
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Expands the Earned Income Tax Credit Program to provide tax relief to families with 3 or more children and increasing the marriage penalty relief.
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Expands the Child Tax Credit. This will allow families to begin qualifying with every dollar earned over $3,000.
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Increases food stamp benefits.
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Incentives for first-time homebuyers and for the purchase of new cars.
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