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The American Recovery and Reinvestment Act is very close to being signed by the President. The Senate passed its version on the 10th sending it to the Joint Congressional Conference on the 11th for final negotiations. On Friday the House and Senate approved the Conference Report, the final step before sending it to the President who is scheduled to sign the act on Tuesday, February 17th.  The current version of the bill is now estimated to be $787 billion.

There are provisions in the bill that are intended to obligate funds quickly to projects that meet the requirements of the programs spelled out in the bill. Leverage your Onvia subscription to access key decision makers and influencers and engage these contacts to understand which of their projects can be ready at the earliest date. Through all of the approval stages the overall funding programs have not changed, they are still focused on infrastructure, technology, water, energy, and education.

The signing of the American Recovery and Reinvestment Act will happen soon. We will be turning our first hand knowledge into actionable next steps for your business. Please continue to send me your questions, mike@onvia.com.

Mike Pickett
Onvia President

House Passes Stimulus Package, Next Is Senate

The U.S. House of Representatives on Friday approved a $787 billion package of spending and tax cuts aimed at rescuing the struggling economy and the Senate was expected to vote on the plan later in the day.

Associated Press, February 13, 2009
http://www.cnbc.com/id/29173597

US Senate Appropriations Committee Press Release

Summary of the ARRA Conference Report
http://appropriations.senate.gov/News/2009_02_12_Summary_of_ARRA_Conference_Report.pdf

Senators say they have come together with House colleagues on
$789 billion package.

Senators say they have come together with House colleagues on $789 billion package.
The House and Senate have agreed on a final $789 billion economic stimulus bill, Senate leaders announced Wednesday.

"This is the right thing to do," said Senate Finance Committee Chairman Max Baucus, D-Mont.
The bill would create 3.5 million jobs, said Baucus and Senate Majority Leader Harry Reid, D-Nev.
Earlier Wednesday, multiple sources gave some details of what negotiators were working out:

- Tax breaks for workers of $800 per family and $400 per individual, down from $1,000 per family or $500 per individual.
- $44 billion in aid to states, including money for education and other services.
- $6 billion to $9 billion for modernizing and repairing schools

CNN, February 11, 2009
http://money.cnn.com/2009/02/11/news/economy/stim_wed/index.htm?postversion=2009021115

Deal struck on economic stimulus package

Congressional sources say lawmakers have resolved key differences over school construction spending that had threatened to derail an earlier compromise.

"I want to thank the Democrats and Republicans in Congress who came together around a hard-fought compromise," said President Barack Obama in a statement.

Obama said the plan will save or create more than 3.5 million jobs and will provide immediate tax relief to families and businesses.

"I'm grateful to the House Democrats for starting this process, and for members in the House and Senate for moving it along with the urgency that this moment demands," said President Obama.

CNN, Dana Bash, Ted Barrett, Evan Glass, Paul Steinhauser, Brianna Keilar and Deirdre Walsh,
February 11, 2009
http://money.cnn.com/2009/02/11/news/economy/stim_wed/index.htm?postversion=2009021118

Key Stimulus Dispute Settled As Bill Moves In Congress

Congressional leaders are ironing out the final details of the $789 billion economic stimulus legislation at the heart of President Barack Obama's recovery plan, resolving a dispute over school construction as they pushed toward a vote in the House on Friday.

The Senate could vote as early as Friday night, or, more likely, on Saturday. A Democratic senator, Sherrod Brown of Ohio, will be absent Friday to attend his mother's memorial service.

The $789 billion measure—official figures can't be released until the measure is fully sorted out —came together Wednesday after a dizzying final round of bargaining that yielded agreement.

Associated Press, February 12, 2009
http://www.cnbc.com/id/29155304

Stimulus: How it may affect your wallet

Congress has finalized the economic recovery plan. Here's a look at some of the provisions geared at financial relief for individuals.

There's still no official legislative text yet, but key lawmakers in the Senate and House have said they've reached a compromise on a final economic recovery package.

The new stated top line price tag: $789.5 billion. That's below both the $820 billion House-passed version and the $838 billion Senate-passed version.

CNNMoney , Jeanne Sahadi, February 12, 2009
http://money.cnn.com/2009/02/12/news/economy/stimulus_individuals/index.htm?postversion=2009021218