The New New Deal? 2009 Obama Stimulus

Over the weekend, President-Elect Obama released a video highlighting more details of the proposed U.S. economic recovery plan or 2009 economic stimulus. A plan he’s now calling, the American Recovery and Reinvestment Plan. The main goals of the plan appear to be: creating 3 million new jobs, mostly from the private sector, he says; and providing tax relief for 95 percent of American workers.

Click here to see the video of Obama’s latest address where he discusses the American Recovery and Reinvestment Plan.

New Jobs Created for a New Year

From what I could tell, new jobs created will come in the following areas:

• Construction of new road and bridges, schools, classrooms, and libraries. I’m assuming this will be the private sector work. So, anyone currently in construction or with those skills will be able to capitalize on some of these jobs.
• Renovate public buildings to make them more energy efficient. I assume these are part of the “green jobs” Obama had promised throughout his campaign. I also assume these will be Federal employees handling this work and that some of the work will be as easy as changing out light bulbs.

So if you’re currently unemployed, those are two areas for you to focus on in the new year.

What About My Taxes?

As for the tax relief, we’re still left guessing what exactly that will be. I’ve written before about the second stimulus, but at this point it’s still only speculation. Obama meets with leaders in Washington this upcoming week to talk about this plan some more. Look for more details this week.

In a related note, if you didn’t qualify initially for the economic stimulus check, I’d encourage you to re-examine what has changed for you this year. As the previous stimulus payment was supposed to be based on 2008 tax data, you may be entitled to a recovery rebate credit. Click here for more details about the recovery rebate credit (@Consumerism Commentary).

What do you think about these new developments? Would you ever consider being a member of the green job force?

Related posts:

1. Tuesday Tax Tip: Recovery Rebate Credit (Economic Stimulus 2nd Chance)
2. Tax Incentives Found in the American Recovery and Reinvestment Act
3. Obama and Bush Talk About Second Economic Stimulus Check
4. Second Obama Stimulus
5. Obama’s Second Stimulus Credit Equal to $13 More a Week