The Act's Goals that Apply to Your Business
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Medical Information Industry: One of the main goals of the American Recovery and Reinvestment Act stimulus plan is to computerize our Nations health care records. $19 billion of the ARRA is going towards electronic medical records with the objective being to save a far greater amount of money with increased efficiencies, lower processing costs, reduced errors and greater data integrity and security. Over the coming years billions of dollars will be spent working toward lofty goals in the electronic record keeping industry. It will also increase the number of physicians using state of the art computers and data processing systems in their practice and will create new opportunities and advanced training for training health care personnel.
> Computer Industry: In addition to the electronic healthcare records opportunity, there are billions of dollars going towards updating computer centers, data processing platforms, and security systems at the Social Security Administration, State Department, Farm Service Agency, and Department of Agriculture headquarters. For decades the US Government has lagged behind private enterprise in the adoption of current technologies. The ARRA intends to bridge the gap and begin to facilitate efficiencies and operational effectiveness that has previously not been realized.
> Renewable Energy: Another goal is to revive the renewable energy industry and to work to provide capital for these industries over the coming years. The eventual goal is to double domestic renewable energy capacity. Millions of dollars are going towards buying energy efficient appliances, reducing diesel fuel emissions, car battery research, and experiments in capturing carbon. This can and will affect a number of industries, from car manufacturers to solar panel producers to architects and engineers.
> Construction: Over $111 billion is going towards infrastructure projects such as retrofits, upgrades, replacements and overdue revitalizations. The objective of the ARRA is to build better roads, bridges, mass transit systems, wastewater treatment facilities and drinking water processing facilities. Hundreds of millions of dollars are also going toward constructing brand new facilities for The Department of Defense and The National Guard as well as new and improved child development centers. The Associated General Contractors of America estimates that this will create / save 1.85 million jobs. Over 640,000 of these jobs will come from within the construction industry and over 300,000 of them will be from suppliers and equipment manufacturers.
> Environmental Cleanup: Nearly $7 billion is going towards the cleanup of hazardous and radioactive waste, as well as cleaning leaks from underground storage tanks and Brownfield land. Creating additional land for future development or current park / open space is another large objective of the ARRA.
> Education: $92 billion is going towards the education industry that will cover grants, educational technology, and childcare services. $300 million will also be allocated toward teacher salaries.
> Telecommunications: $7.85 billion is going towards the telecommunications industry. Specifically, this will further expand the national broadband network as well as make wireless internet access more prevalent.
> State and Local Municipalities: About $5.51 billion will go towards state and local services like law enforcement support, upgrading fire stations and fire department equipment, enhancing public works agencies and overdue port security upgrades.
To read all the goals of the act, please visit:
www.recovery.gov/?q=content/our-mission
To read the final text of legislation, please visit:
www.whitehouse.gov/the_press_office/ARRA_public_review/
To see a breakdown of where the money is going, please visit:
en.wikipedia.org/wiki/American_Recovery_and_Reinvestment_Act_of_2009
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Where the money is going:
TOTAL COST: $787 BILLION
* Tax Relief - $15 B for Infrastructure and Science, $61 B for Protecting the Vulnerable, $25 B for Education and Training and $22 B for Energy, so total funds are $126 B for Infrastructure and Science, $142 B for Protecting the Vulnerable, $78 B for Education and Training, and $65 B for Energy.
* State and Local Fiscal Relief - Prevents state and local cuts to health and education programs and state and local tax increases.
(Information from Recovery.gov) |
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