1. Human Resource Managers Association of Bay County

2. American Recovery and Reinvestment Act of 2009 Full TitleAct of making supplemental appropriations for job preservation and creation, infrastructure investment, energy efficiency and science, assistance to the unemployed, and state and local fiscal stabilization, for the fiscal year ending September 30, 2009, and for other purposes. Acronym/ARRA (official acronym) Slang name “stimulus package”, “stimulus bill”, “stimulus plan” Enacted by111 th United States Congress EffectiveFebruary 17, 2009

3. Legislative History House of Representatives House of Representatives Senate Senate Comparison of the House, Senate and Conference Versions Comparison of the House, Senate and Conference Versions Conference Report Conference Report

4. House of Representatives On January 28, 2009, the House passed the bill by a 244-188 vote. All but 11 Democrats voted for the bill, and 177 Republicans voted against it (one Republican, Ginny Brown-White, did not vote). On January 28, 2009, the House passed the bill by a 244-188 vote. All but 11 Democrats voted for the bill, and 177 Republicans voted against it (one Republican, Ginny Brown-White, did not vote). Senate The main funding differences between the Senate bill and the House bill are: The main funding differences between the Senate bill and the House bill are: More funding for health care in the Senate ($153.3 vs. $140 billion) More funding for health care in the Senate ($153.3 vs. $140 billion) More funding for green energy programs ($74 vs. 39.4 billion) More funding for green energy programs ($74 vs. 39.4 billion) More funding for home buyers tax credit ($35.5 vs.. $2.6 billion) More funding for home buyers tax credit ($35.5 vs.. $2.6 billion) New payments to the elderly and a one year increase in AMT limits. New payments to the elderly and a one year increase in AMT limits. The House has more funds appropriated for education ($143 vs.. $119.1 billion), infrastructure ($90.4 vs.. $62 billion) and for aid to low income works and the unemployed ($71.5 vs.. $66.5 billion). The House has more funds appropriated for education ($143 vs.. $119.1 billion), infrastructure ($90.4 vs.. $62 billion) and for aid to low income works and the unemployed ($71.5 vs.. $66.5 billion).

5. Conference Report On February 12, 2009, House Majority Leader Steny Hoyer scheduled the vote on the bill for the next day, before the bill’s content had been completed. On February 12, 2009, House Majority Leader Steny Hoyer scheduled the vote on the bill for the next day, before the bill’s content had been completed. Despite House Democrats having previously promised to allow a 48- hour public review period before any vote, the bill was not completed and posted on a House website until 10:45pm on February 12. Despite House Democrats having previously promised to allow a 48- hour public review period before any vote, the bill was not completed and posted on a House website until 10:45pm on February 12. The next day, the House passed a revised version of the bill by a vote of 246 – 183, with no Republicans voting in favor and 7 Democrats voting against. The next day, the House passed a revised version of the bill by a vote of 246 – 183, with no Republicans voting in favor and 7 Democrats voting against. Provisions of the Act $288 billion or 37% of the package is to be devoted to tax cuts $288 billion or 37% of the package is to be devoted to tax cuts $144 billion or 18% is allocated to state and local fiscal relief (more than 90% of the state aid is going to Medicaid and education). $144 billion or 18% is allocated to state and local fiscal relief (more than 90% of the state aid is going to Medicaid and education). $357 billion or 45% is allocated to federal social programs and federal spending programs. $357 billion or 45% is allocated to federal social programs and federal spending programs.

6. Provisions of the Act Business / Companies - $15 Billion Business / Companies - $15 Billion Owners / Individuals - $237 Billion Owners / Individuals - $237 Billion Healthcare Industry - $148 Billion Healthcare Industry - $148 Billion Education - $91 Billion Education - $91 Billion Low income workers, unemployed and retirees - $83 Billion Low income workers, unemployed and retirees - $83 Billion Energy Industry - $61 Billion Energy Industry - $61 Billion Housing Industry – $13 Billion Housing Industry – $13 Billion Scientific Research – $9 Billion Scientific Research – $9 Billion

7. Tax Relief for Companies Making Work Pay Tax Credit Working Opportunity Credit COBRA- Health Insurance Continuation Subsidy Energy Efficiency and Renewable Energy Incentives Net Operating Loss Carryback Extension of Depreciation Expense

8. Tax Relief for Companies Making Work Pay Tax Credit Making Work Pay Tax Credit Implementation of the new tax credit for the working $400 (Single) / $800 (MFJ) Implementation of the new tax credit for the working $400 (Single) / $800 (MFJ) Businesses should use the new withholding rates for their employees. For pension plan administrators, new optional withholding procedures are available to supplement the February withholding tables. Businesses should use the new withholding rates for their employees. For pension plan administrators, new optional withholding procedures are available to supplement the February withholding tables.new withholding ratesoptional withholding procedures February withholding tablesnew withholding ratesoptional withholding procedures February withholding tables Information about these tables can be found in news release 2009-13, while more details about the Making Work Pay credit are available in Publication 15-T Information about these tables can be found in news release 2009-13, while more details about the Making Work Pay credit are available in Publication 15-Tnews release 2009-13Publication 15-Tnews release 2009-13Publication 15-T

9. Tax Relief for Companies Working Opportunity Tax Credit Working Opportunity Tax Credit Expansion of existing business tax credit Expansion of existing business tax credit This newly-expanded credit adds returning veterans and "disconnected youth" to the list of new hires covered by the credit that businesses may claim. Certification by the state work force agency is required. This newly-expanded credit adds returning veterans and "disconnected youth" to the list of new hires covered by the credit that businesses may claim. Certification by the state work force agency is required.newly-expanded creditnewly-expanded credit Under a special rule, businesses have until Aug. 17, 2009, to file this form for unemployed veterans and disconnected youth who begin work on or after Jan. 1, 2009 and before July 17, 2009. Notice 2009-28, posted on IRS.gov Under a special rule, businesses have until Aug. 17, 2009, to file this form for unemployed veterans and disconnected youth who begin work on or after Jan. 1, 2009 and before July 17, 2009. Notice 2009-28, posted on IRS.gov Notice 2009-28 Notice 2009-28

10. Tax Relief for Companies COBRA: Health Insurance Continuation Subsidy COBRA: Health Insurance Continuation Subsidy Expansion of existing health insurance Expansion of existing health insurance The IRS has extensive guidance for employers, including an updated Form 941, as well as information for qualifying individuals. The IRS has extensive guidance for employers, including an updated Form 941, as well as information for qualifying individuals.extensive guidance for employersinformation for qualifying individualsextensive guidance for employersinformation for qualifying individuals Workers who have lost their jobs may qualify for a 65 percent subsidy for COBRA continuation premiums for themselves and their families for up to nine months. Workers who have lost their jobs may qualify for a 65 percent subsidy for COBRA continuation premiums for themselves and their families for up to nine months. Eligible workers will have to pay 35 percent of the premium to their former employers. Eligible workers will have to pay 35 percent of the premium to their former employers. To qualify, a worker must have been involuntarily separated between Sept. 1, 2008, and Dec. 31, 2009. Workers who lost their jobs between Sept. 1, 2008, and enactment, but failed to initially elect COBRA because it was unaffordable, get an additional 60 days to elect COBRA and receive the subsidy. To qualify, a worker must have been involuntarily separated between Sept. 1, 2008, and Dec. 31, 2009. Workers who lost their jobs between Sept. 1, 2008, and enactment, but failed to initially elect COBRA because it was unaffordable, get an additional 60 days to elect COBRA and receive the subsidy. Additional information may be found in Notice 2009-27, Premium Assistance for COBRA Benefits. Additional information may be found in Notice 2009-27, Premium Assistance for COBRA Benefits.Notice 2009-27Notice 2009-27

11. Tax Relief for Companies Energy Efficiency and Renewable Energy Incentives Energy Efficiency and Renewable Energy Incentives New Clean Renewable Energy Bonds (Section 1111) New Clean Renewable Energy Bonds (Section 1111) Qualified Energy Conservation Bonds (Section 1112) Qualified Energy Conservation Bonds (Section 1112) Extension of Renewable Energy Production Tax Credit (Section 1101) Extension of Renewable Energy Production Tax Credit (Section 1101) Election of Investment Credit in Lieu of Production Credit (Section 1102) Election of Investment Credit in Lieu of Production Credit (Section 1102) Repeal of Certain Limits on Business Credits for Renewable Energy Property (Section 1103) Repeal of Certain Limits on Business Credits for Renewable Energy Property (Section 1103) Coordination With Renewable Energy Grants (Section 1104) Coordination With Renewable Energy Grants (Section 1104) Temporary Increase in Credit for Alternative Fuel Vehicle Refueling Property (Section 1123) Temporary Increase in Credit for Alternative Fuel Vehicle Refueling Property (Section 1123)

12. Tax Relief for Companies Net Operating Carry Back Losses Loss Carry backs: Businesses that averaged $15 million or less in gross receipts over the past three years will be allowed to carry back losses for five years instead of two. The easing applies to 2008 losses as well. Loss Carry backs: Businesses that averaged $15 million or less in gross receipts over the past three years will be allowed to carry back losses for five years instead of two. The easing applies to 2008 losses as well. Example – Example – 2008 – Losses of 2008 – Losses of 2007 – Income of $25,000 2007 – Income of $25,000 2006 – Income of $15,000 2006 – Income of $15,000 Normally you would stop with a NOL of Normally you would stop with a NOL of 2005 – Income of $15,000 2005 – Income of $15,000 2004 – Income of $20,00 2004 – Income of $20,00

13. Tax Relief for Companies Bonus Depreciation Deduct 50% of New Assets Deduct 50% of New Assets You can now deduct 50% of assets that were purchased January 1, 2008 though December 31, 2009. In tax terminology, we referred to this as “bonus depreciation”. You can now deduct 50% of assets that were purchased January 1, 2008 though December 31, 2009. In tax terminology, we referred to this as “bonus depreciation”. Fully Deduct Equipment Purchases Fully Deduct Equipment Purchases You can deduct up for $250,000 worth of the assists your small business purchases during 2008 and 2009. In tax speak, this is because the Section 179 deduction has been increased. The nice thing about Section 179 is that it allows you to immediately deduct most business equipment the year you buy them instead of depreciating their value over the course of several years, like you used to have to do. Caveat if you sell asset before life expectancy – you have to recapture expense as income. You can deduct up for $250,000 worth of the assists your small business purchases during 2008 and 2009. In tax speak, this is because the Section 179 deduction has been increased. The nice thing about Section 179 is that it allows you to immediately deduct most business equipment the year you buy them instead of depreciating their value over the course of several years, like you used to have to do. Caveat if you sell asset before life expectancy – you have to recapture expense as income.

14. Tax Relief for Companies New vehicle purchases Business You can take a bigger depreciation deduction if you buy new passenger autos or light trucks for your business. Most autos (with exceptions of large SUVs and pickups – 6,000 lbs. gvw) are subject to auto depreciation limits. The new bonus depreciation extension now increases the maximum first-year depreciation deduction by $8,000. You can take a bigger depreciation deduction if you buy new passenger autos or light trucks for your business. Most autos (with exceptions of large SUVs and pickups – 6,000 lbs. gvw) are subject to auto depreciation limits. The new bonus depreciation extension now increases the maximum first-year depreciation deduction by $8,000.

15. Tax Relief for Companies Lower Estimate Taxes (requirement) for Self-Employed Individuals Pay Less in Estimated Taxes Pay Less in Estimated Taxes For self employed companies to approximate the effect of the making work pay tax credit For self employed companies to approximate the effect of the making work pay tax credit If your total adjusted gross income is less than $500,000 and 50% of it is from a small business, you only have to pay 90% of your estimated taxes in 2009. If your total adjusted gross income is less than $500,000 and 50% of it is from a small business, you only have to pay 90% of your estimated taxes in 2009. In the past it has been 100% or you would be subject to underpayment penalties. In the past it has been 100% or you would be subject to underpayment penalties.

16. Tax Relief for Owners / Individuals Total: $237 billion $116 billion: New “Making Work Pay”. $116 billion: New “Making Work Pay”. $70 billion: Alternative minimum tax: a one year increase in AMT floor to $70,950 for joint filers for 2009 (trying to avoid people from falling into AMT 2008 limit $45,000) $70 billion: Alternative minimum tax: a one year increase in AMT floor to $70,950 for joint filers for 2009 (trying to avoid people from falling into AMT 2008 limit $45,000) $15 billion: Expansion of child tax credit refund provision $15 billion: Expansion of child tax credit refund provision $14 billion: Expanded college credit to provide a $2,500. The credit is phased out for couples making more than $160,000. This used to be 20% of qualified costs up to $10,000) expanded to include computers. $14 billion: Expanded college credit to provide a $2,500. The credit is phased out for couples making more than $160,000. This used to be 20% of qualified costs up to $10,000) expanded to include computers.

17. Tax Relief for Individuals / Owners (continued) $6.6 billion: Homebuyer credit: $8,000 refundable credit for all homes bought between 1/1/2009 and 12/1/2009. $6.6 billion: Homebuyer credit: $8,000 refundable credit for all homes bought between 1/1/2009 and 12/1/2009. $4.7 billion: Excluding from taxation the first $2,400 a person receives in unemployment compensation benefits in 2009. $4.7 billion: Excluding from taxation the first $2,400 a person receives in unemployment compensation benefits in 2009. $4.3 billion: Home energy credit to provide an expanded credit to homeowners who make their homes more energy-efficient in 2009 and 2010. Homeowners could recoup 30% of the cost up to $1,500 ($450) of installing energy-efficient windows, doors, furnaces and air conditioners. $4.3 billion: Home energy credit to provide an expanded credit to homeowners who make their homes more energy-efficient in 2009 and 2010. Homeowners could recoup 30% of the cost up to $1,500 ($450) of installing energy-efficient windows, doors, furnaces and air conditioners. $1.7 billion: repeal the phase-out of deduction of sales tax from car purchases, for combined household incomes over $250,000. $1.7 billion: repeal the phase-out of deduction of sales tax from car purchases, for combined household incomes over $250,000.

18. Owners / Individuals Making Work Pay Credit Making Work Pay Credit: Workers and the self-employed would get a payroll tax credit for 2009 and 2010 of up to $400 a year for single taxpayers and up to $800 for couples filing jointly. Making Work Pay Credit: Workers and the self-employed would get a payroll tax credit for 2009 and 2010 of up to $400 a year for single taxpayers and up to $800 for couples filing jointly. The IRS will get the money to taxpayers by adjusting the withholding tables, thereby boosting paychecks. The increase could be as much as $40 per month per worker, depending on when the withholding tables are changed. Self-employed workers can reduce their estimated tax payments for 2009. The IRS will get the money to taxpayers by adjusting the withholding tables, thereby boosting paychecks. The increase could be as much as $40 per month per worker, depending on when the withholding tables are changed. Self-employed workers can reduce their estimated tax payments for 2009. For single tax filers, the credit will begin phasing out at an Adjusted Gross Income (AGI) of $75,000. For couples filing jointly, the phase-out zone will start at $150,000 of AGI (Adjusted Gross Income is your total income from wages and other income minus certain adjustments, such as deductible IRA contributions and alimony paid.) For single tax filers, the credit will begin phasing out at an Adjusted Gross Income (AGI) of $75,000. For couples filing jointly, the phase-out zone will start at $150,000 of AGI (Adjusted Gross Income is your total income from wages and other income minus certain adjustments, such as deductible IRA contributions and alimony paid.)

19. Owners / Individuals Earned Income Tax Credit Expanded Earned income Tax Credit (EITC): More couples who file jointly and have children will quality for the Earned Income Credit. The tax package starts the phase-out range at $21,420, and increase of $1,880. Also in 2009, the credit increases for families with three or more children to 45% of the first $12,570 of earned income, up from 40%. Bottom Line: a $1,000 credit to more families (normally available to dependents until age 16, but limited to those that make more than $8,500 lowered to $3,000 thereby increasing the amount of families eligible for a refund)

20. Owners / Individuals Home Buyer’s Credit Homebuyer credit: $8,000 refundable credit for all homes bought between 1/1/2009 and 12/1/2009 and repayment provision repealed for homes purchased in 2009 and held more than three years instead of being paid back. This only applies to first-time home buyers. 2008 law was $7,500 for first time home buyers and had to be paid back over 15 years or when home was sold.

21. Owners / Individuals College Students & Their Families Expanded Hope Credit: The Hope Credit for college costs is increased to $2,500 for 2009 and 2010, covering 100% of the first $2,000 of tuition and related expenses per year and 25% of the next $2,000. Expanded Hope Credit: The Hope Credit for college costs is increased to $2,500 for 2009 and 2010, covering 100% of the first $2,000 of tuition and related expenses per year and 25% of the next $2,000. The credit is available for all four years of college, up from only two years, and covers the cost of books. It is 40% refundable, and begins to phase out at $80,000 of Adjusted Gross Income for singles and $160,000 of Adjusted Gross Income for married couples. The credit is available for all four years of college, up from only two years, and covers the cost of books. It is 40% refundable, and begins to phase out at $80,000 of Adjusted Gross Income for singles and $160,000 of Adjusted Gross Income for married couples. The bill also allows tax-free distributions from Sec. 529 College Savings Plans to cover computer purchases. The bill also allows tax-free distributions from Sec. 529 College Savings Plans to cover computer purchases.

22. Owners / Individuals Unemployment Making Work Pay Credit Reduced taxes on unemployment income: Normally, people receiving unemployment benefits must report them as income and can be taxed on them. The new bill makes the first $2,400 of unemployment nontaxable. Reduced taxes on unemployment income: Normally, people receiving unemployment benefits must report them as income and can be taxed on them. The new bill makes the first $2,400 of unemployment nontaxable. Lowered cost for COBRA health insurance: This is a valuable benefit for workers who lose their health insurance when they lose their jobs. This government subsidy should help more unemployed people afford to keep their insurance. Lowered cost for COBRA health insurance: This is a valuable benefit for workers who lose their health insurance when they lose their jobs. This government subsidy should help more unemployed people afford to keep their insurance.

23. Owners / Individuals New Car sales tax deduction: Buyers of new cars, light trucks, SUVs, motorcycles and motor homes during 2009 can deduct the state sales or excise tax they pay, even if they don’t itemize their deductions. Deduct more for new autos. New Car sales tax deduction: Buyers of new cars, light trucks, SUVs, motorcycles and motor homes during 2009 can deduct the state sales or excise tax they pay, even if they don’t itemize their deductions. Deduct more for new autos. This break starts phasing out for single taxpayers with AGI over $125,000 and couples with AGI over $250,000. This break starts phasing out for single taxpayers with AGI over $125,000 and couples with AGI over $250,000.

24. Healthcare Industry Total: $147.7 billion $86.6 billion for Medicaid $86.6 billion for Medicaid $24.7 billion to provide a 65 percent subsidy of health care insurance premiums for the unemployed under the COBRA program $24.7 billion to provide a 65 percent subsidy of health care insurance premiums for the unemployed under the COBRA program $19 billion for health information technology $19 billion for health information technology $10 billion for health research and construction of National Institutes of Health facilities $10 billion for health research and construction of National Institutes of Health facilities $1.3 billion for medical care for service members and their families (military) $1.3 billion for medical care for service members and their families (military)

25. Healthcare Industry (continued) $1 billion for prevention and wellness $1 billion for the Veterans Health Administration $2 billion for Community Health Centers $1.1 billion to research the effectiveness of certain healthcare treatments $500 million to train healthcare personnel $500 million for healthcare services on Indian reservations

26. Education Total: $90.9 billion $44.5 billion in aid to local school districts to prevent layoffs and cutbacks, with flexibility to use the funds for school modernization and repair (State Equalization Fund) $44.5 billion in aid to local school districts to prevent layoffs and cutbacks, with flexibility to use the funds for school modernization and repair (State Equalization Fund) $15.6 billion to increase Pell Grants from $4,731 to $5,350 $15.6 billion to increase Pell Grants from $4,731 to $5,350 $13 billion for low-income public schoolchildren $13 billion for low-income public schoolchildren $12.2 billion for IDEA special education $12.2 billion for IDEA special education $2.1 billion for Head Start $2.1 billion for Head Start $2 billion for childcare services $2 billion for childcare services $650 million for educational technologies $650 million for educational technologies

27. Education (cont.) $300 million for increased teacher salaries $300 million for increased teacher salaries $250 million for states to analyze student performance $250 million for states to analyze student performance $200 million to support working college students $200 million to support working college students $70 million for the education of homeless children $70 million for the education of homeless children

28. Aid to low income workers, unemployed and retirees Total: $82.5 billion $40 billion to provide (if you have current benefits) extended unemployment benefits through Dec. 31, and increase them by $25 a week. $40 billion to provide (if you have current benefits) extended unemployment benefits through Dec. 31, and increase them by $25 a week. $19.9 billion for the Food Stamp Program $19.9 billion for the Food Stamp Program $14.2 billion to give one-time $250 payments to Social Security recipients, people on Supplemental Security Income, and veterans receiving disability and pensions ( in addition those not eligible for SS benefits would receive a tax credit of $250 on 2009 return). $14.2 billion to give one-time $250 payments to Social Security recipients, people on Supplemental Security Income, and veterans receiving disability and pensions ( in addition those not eligible for SS benefits would receive a tax credit of $250 on 2009 return). $3.95 billion for job training $3.95 billion for job training

29. Aid to low income workers, unemployed and retirees (continued) $3 billion in temporary welfare payments $500 million for vocational training for the disabled $400 million for employment services $120 million for subsidized community service jobs for older Americans $150 million to help refill food banks $100 million for meals programs for seniors, such as Meals on Wheels $100 million for free school lunch programs

30. Energy Total: $61.3 billion $11 billion funding for electric smart grid $11 billion funding for electric smart grid $6.3 billion for state and local governments to make investments in energy efficiency $6.3 billion for state and local governments to make investments in energy efficiency $6 billion for renewable energy and electric transmission technologies loan guarantees $6 billion for renewable energy and electric transmission technologies loan guarantees $6 billion for the cleanup of radioactive waste (mostly nuclear power plant sites) $6 billion for the cleanup of radioactive waste (mostly nuclear power plant sites) $5 billion for weatherizing modest-income homes $5 billion for weatherizing modest-income homes $4.5 billion for the Office of Electricity and Energy Reliability to modernize the nation’s electrical grid and smart grid. $4.5 billion for the Office of Electricity and Energy Reliability to modernize the nation’s electrical grid and smart grid. $4.5 billion for state and local governments to increase energy efficiency in federal buildings $4.5 billion for state and local governments to increase energy efficiency in federal buildings $3.4 billion for carbon capture experiments $3.4 billion for carbon capture experiments

31. Energy (continued) $3.25 billion for the West Area Power Administration for power transmission system upgrades $3.25 billion for the West Area Power Administration for power transmission system upgrades $2.5 billion for energy efficiency research $2.5 billion for energy efficiency research $2 billion for manufacturing of advanced car battery (traction) systems and components. $2 billion for manufacturing of advanced car battery (traction) systems and components. $3.2 billion toward Energy Efficiency and Conservation Block Grants. $3.2 billion toward Energy Efficiency and Conservation Block Grants. $500 million for training of green-collar workers (by the Dept. of Labor) $500 million for training of green-collar workers (by the Dept. of Labor) $400 million for electric vehicle technologies $400 million for electric vehicle technologies $300 million for federal vehicle fleets, to cover the cost of acquiring electric vehicles, including plug-in hybrid vehicles. $300 million for federal vehicle fleets, to cover the cost of acquiring electric vehicles, including plug-in hybrid vehicles.

32. Energy (continued) $300 million to buy energy efficient appliances $300 million to buy energy efficient appliances $300 million for reducing diesel fuel emissions $300 million for reducing diesel fuel emissions $300 million for state and local governments to purchase energy efficient vehicles $300 million for state and local governments to purchase energy efficient vehicles $250 million to increase energy efficiency in low-income housing $250 million to increase energy efficiency in low-income housing $600 million to cleanup hazardous waste that threatens health and the environment $600 million to cleanup hazardous waste that threatens health and the environment $200 million to clean up petroleum leaks from underground storage tanks $200 million to clean up petroleum leaks from underground storage tanks $100 million to evaluate and cleanup brown field land $100 million to evaluate and cleanup brown field land $400 million for the Geothermal Technologies Program $400 million for the Geothermal Technologies Program

33. Housing Total: $12.7 billion $4 billion to the Department of Housing and Urban Development (HUD) for repairing and modernizing public housing, including increasing the energy efficiency of units. $2.25 billion in tax credits for financing low-income housing construction $2 billion for Section 8 housing rental assistance $2 billion to help communities purchase and repair foreclosed housing

34. Housing (continued) Total: $12.7 billion $1.5 billion for rental assistance and housing relocation $1.5 billion for rental assistance and housing relocation $510 million for the rehabilitation of Native American housing $510 million for the rehabilitation of Native American housing $200 million for helping rural Americans buy homes $200 million for helping rural Americans buy homes $130 million for rural community facilities $130 million for rural community facilities $100 million to help remove lead paint from public housing $100 million to help remove lead paint from public housing

35. Scientific Research Total: $8.9 billion $3 billion to the National Science FoundationNational Science Foundation $2 billion to the United States Department of EnergyUnited States Department of Energy $1.3 billion for university research facilities $1 billion to NASANASA $600 million to the National Oceanic and Atmospheric Administration (NOAA)National Oceanic and Atmospheric Administration $580 million to the National Institute of Standards and TechnologyNational Institute of Standards and Technology $230 million for NOAA operations, research and facilities $140 million to the United States Geological SurveyUnited States Geological Survey

36. Recovery.gov A May 21, 2009 article in the Washington Post stated, “To build support of the stimulus package, President Obama vowed unprecedented transparency, a big part of which, he said, would be allowing taxpayers to track money to the street level on the website Recovery.gov. But three months after the bill was signed, Recovery.gov offers little beyond news releases, general breakdowns of spending, and acronym- laden spreadsheets and timelines.” The same article also stated, “Unlike the government site, the privately run Recovery.gov is actually providing detailed information about how the $787 billion in stimulus money is being spent.” Directives are currently being given to those organizations handling the stimulus dollars that tie directly to Recovery.gov that will require that detailed reports be provided that will end up on Recovery.org which tie the dollars spent to activities in the bill.

37. Tax Disclaimer In compliance with IRS Circular 230: In compliance with IRS Circular 230: Any statements or tax advice that are contained in this presentation are not intended or written to be used, and cannot be used by any taxpayer, for the purpose of avoiding penalties that may be imposed on the taxpayer. Any statements or tax advice that are contained in this presentation are not intended or written to be used, and cannot be used by any taxpayer, for the purpose of avoiding penalties that may be imposed on the taxpayer.

38. References American Recovery and Reinvestment Act of 2009 –WIRS.GOV American Recovery and Reinvestment Act of 2009 –WIRS.GOV American Recovery and Reinvestment Act of 2009 - Wikipedia American Recovery and Reinvestment Act of 2009 - Wikipedia 2009 Stimulus Package: What’s In It For You – TurboTax 2009 2009 Stimulus Package: What’s In It For You – TurboTax 2009 2009 Stimulus Package For Businesses - TurboTax 2009 Stimulus Package For Businesses - TurboTax

39. Questions ?