Treasury gives stimulus update

Washington – As part of an effort to highlight the success of the American Recovery and Reinvestment Act (Recovery Act) in revitalizing communities across the country, the U.S. Department of the Treasury has released a report providing data on Treasury program funding.

The report, issued around the 200-day anniversary of the Recovery Act, details funds provided to states, local communities, and families through a variety of programs, including the Making Work Pay Tax Credit, payments for renewable energy production, funds for affordable housing development, and Build America Bonds.

Highlights of the impact from Treasury’s Recovery Act programs during the first 200 days include:

- $66.1 billion in estimated tax benefits provided to individuals, families and businesses through the implementation of various tax provisions. The Making Work Pay credit has been a significant element of these provisions

- $502 million in payments made to promote renewable energy production throughout the country

- $2.3 billion provided to 37 states to spur the development of affordable housing

- $28.2 billion in Build America Bonds issuances to help 37 states finance a variety of public improvement projects.