On Thursday, the U.S. House of Representatives democratic leadership unveiled an $825 billion economic stimulus package stretched over two years. The bill includes $550 billion in spending and another $275 billion in tax cuts.
The package, titled the American Recovery and Reinvestment Plan, would invest $90 billion for infrastructure, $14 billion for school construction and roughly $55 billion for building projects. The infrastructure breakdown is as follows:
- $30 billion for highway construction;
- $31 billion to modernize federal and other public infrastructure;
- $19 billion for clean water, flood control, and environmental restoration investments;
- $10 billion for transit and rail to reduce traffic congestion and gas consumption.
The National Ready Mixed Concrete Association estimates that for every $5 billion invested in infrastructure, 1 million yards of concrete is placed and 150,000 jobs are created. A stimulus bill with $90 billion dedicated for infrastructure could result in the sale of roughly 18 million yards of concrete and the creation of nearly 2.7 million jobs.
Please click here to view an outline of the stimulus spending measures.
To view an outline of stimulus tax provisions please click here.