Reed talks about benefits of stimulus

PROVIDENCE, R.I. (WPRI) - Rhode Island's senior Senator Jack Reed held a news conference Monday morning to talk about how President Barack Obama's stimulus package will help the state cope with the financial crisis.

Under this version of the 827 million dollar package, the Ocean State is slated to receive $123 million dollars to go toward transportation infrastructure. It is expected to create 13,000 jobs in Rhode Island, mostly in the fields of engineering and construction in cement fields.

Some Rhode Islanders will get a tax break due to the stimulus package. But, it is all determined by how much money you make. Individuals who earn $70,000 or less a year would receive a one time tax credit of $500. Couples who earn $100,000 or less a year would earn a one time tax credit of $1,000.

Senator Reed says this package is directed at putting money in the hands of American workers. And creating new jobs. Both of these things were not addressed in President Bush's original bailout plan.

The senate is expected to vote on the stimulus package Tuesday.