Navigating the Economic Stimulus Plan
On February 17, 2009, President Barack Obama signed the American Recovery and Reinvestment Act was into law. One of the main purposes of the act is to provide immediate economic help for Americans struggling with the current economic situation. The act is designed to help save or create more than 3.5 million jobs over the next two years. It also includes tax benefits such as the Making Work Pay credit, expansion of the Child Tax Credit, higher education tax credits, and money for Social Security Recipients. There is even an expanded tax credit for first-time homebuyers.
In addition, money is being allocated to states to address economic challenges on a more localized level. This money in turn continues to funnel down to the city and county level, the agency level, and to the individual level. It is one of the most sweeping efforts to jumpstart the economy since the Great Depression. We have put together this links page to help you more easily find the information you are looking for. We start at the local level and work up to the federal level.
What is Lexington doing?
Mayor Jim Newberry established the Mayor's Commission on the American Recovery and Reinvestment Act on January 31, 2009. The commission meets weekly to discuss funding priorities and make decisions about oversight of stimulus funds.
More local information is available at the LEXINGTON AT WORK website:
You can subscribe to the Mayor's newsletter to receive regular updates on this and other city initiatives here: Subscribe to Mayor Newberry's newsletter
What is Kentucky doing?
The KENTUCKY AT WORK site -- part of www.ky.gov-- has good links to information about what Kentucky is doing in conjunction with the American Recovery and Reinvestment Act of 2009 (ARRA):
What is the Federal Government doing?
If you go to the RECOVERY.GOV site, you can track up-to-the minute stimulus information. There is also a link to the bill, an interactive timeline of implementation, and a place to share your own story. According to the site, ARRA will help Kentucky save/create 48,000 jobs over the next two years.
- Main Recovery.gov site
- Information from the Department of Labor
- Information on Federal Grants
- Information from the Employment & Training Administration
Where can I read the entire text of the American Recovery and Reinvestment Act of 2009?
How can I get help?
If you need help finding a job, paying bills, paying for food, finding transportation, or any number of other immediate needs, go to the State of Kentucky's assistance site: http://www.assistance.ky.gov/
For more job help information, be sure to check out Lexington Public Library's Free Job Search Help and Free Help for Tough Financial Times pages on the library's website.
What are my tax benefits?
The KENTUCKY AT WORK site Kentucky at Work - Home has a link to "TAX INCENTIVES AVAILABLE UNDER THE AMERICAN RECOVERY AND REINVESTMENT ACT (ARRA)." It is located in the right-hand column, last item under "Related Links."
The IRS also has information in both English and Spanish:
Remember to check with a tax professional if you have any questions.
BEWARE OF SCAMS!!**
Be aware that there are individuals who are trying to take advantage of people during these tough economic times. Be on the lookout for scams.
The Federal Trade Commission has information that is useful:
The Kentucky Attorney General's Office also has useful info on avoiding a variety of scams:
We will continue to update this page as more information becomes available. Please check back regularly for the latest information!
How will schools be impacted?
Secretary of Education Arne Duncan has announced that $44 billion for states and schools is now available under the American Recovery & Reinvestment Act.
Put Your Skills to Use in AmeriCorps and Senior Corps Programs
The American Recovery and Reinvestment Act includes $201 million in funding for the Corporation for National and Community Service, a federal agency created in 1993. The Corporation engages four million Americans in result-driven service each year, including 75,000 AmeriCorps members, 492,000 Senior Corps volunteers, 1.1 million Learn and Serve America students, and 2.2 million additional community volunteers mobilized and managed through the agency’s programs.
The Edward M. Kennedy Serve America Act, which is currently in front of Congress, would reauthorize and expand national service programs administered by the Corporation. It could pave way for an increase from 75,000 to 250,000 positions over the next few years. Go to the National and Community Service website -- http://www.nationalservice.gov/ -- for more information on the possible expansion of these programs.
You can also check into AmeriCorps (includes the VISTA program) here:
And Senior Corps here:
Supplemental Security Income (SSI) and Social Security recipients receive $250
The 2009 American Recovery & Reinvestment Act includes one-time payments to nearly 55 million people receiving SSI and Social Security. These payments are due to arrive in May 2009.
Check here for more details:
Check the Social Security site for more general information:
NEW! What is the Car Allowance Rebate System?
The CAR Allowance Rebate System (CARS) is a $1 billion government program that helps consumers buy or lease a more environmentally-friendly vehicle from a participating dealer when they trade in a less fuel-efficient car or truck. The program is designed to energize the economy; boost auto sales and put safer, cleaner and more fuel-efficient vehicles on the nation's roadways.
Consumers will be able to take advantage of this program and receive a $3,500 or $4,500 discount from the car dealer when they trade in their old vehicle and purchase or lease a new one. Consumers you do not need to register anywhere or at anytime for this program. However, to find out eligibility requirements click here.
What is NHTSA doing to guard against fraud? Click here for more information. Allegations of fraud may be reported by calling our toll-free 24-hour hotline at 1-800-424-9071.