Breakdown of stimulus for RI

WASHINGTON, DC (WPRI) - The White House earlier this month released a fact sheet offering state-specific details on the American Recovery and Reinvestment Plan. Here's the breakdown for Rhode Island.

According to the report, Rhode Island will receive from this economic recovery package:

- Creating or saving 13,000 jobs over the next two years. Jobs created will be in a range of industries from clean energy to health care, with over 90% in the private sector. [Source: White House Estimate based on Romer and Bernstein, “The Job Impact of the American Recovery and Reinvestment Plan.” January 9, 2009.]

- Providing a making work pay tax cut of up to $1,000 for 470,000 workers and their families. The plan will make a down payment on the President’s Making Work Pay tax cut for 95% of workers and their families, designed to pay out immediately into workers’ paychecks. [Source: White House Estimate based on IRS Statistics of Income]

- Making 14,000 families eligible for a new American Opportunity Tax Credit to make college affordable. By creating a new $2,500 partially refundable tax credit for four years of college, this plan will give 3.8 million families nationwide – and 14,000 families in Rhode Island – new assistance to put college within their reach. [Source: Center on Budget and Policy Priorities analysis of U.S. Census data]

- Offering an additional $100 per month in unemployment insurance benefits to 86,000 workers in Rhode Island who have lost their jobs in this recession, and providing extended unemployment benefits to an additional 17,000 laid-off workers. [Source: National Employment Law Project]

- Providing funding sufficient to modernize at least 37 schools in Rhode Island so our children have the labs, classrooms and libraries they need to compete in the 21st century economy. [Source: White House Estimate]