Got Your Share Of The $787 Billion Dollar Stimulus Yet?

Written by admin on February 7, 2010 – 3:41 am

By now, some folks may be thinking: “I haven’t got my share of the $787 billion dollar stimulus money yet!” The smart reader wll notice the different ways that individuals and families can benefit from the stimulus funds. Cash is important and money is available, but that is only one way to benefit from the Reinvestment Act. There are a lot of ways to prosper from this provision, as you’ll see as you continue reading.

Why The American Recovery and Reinvestment Act of 2009 Was Signed

The American Recovery and Reinvestment Act of 2009 (Recovery Act) was signed in February 2009, by President Obama. The money has served to help the nation’s transportation and infrastructure, but that is not the sole purpose of the $787 billion dollars that The Recovery Act provides for. Many Americans are only just now starting to reap the benefits in their respective states.

This humongous $787 billion pie has been sliced up in a number of ways. There are many variables to how the monies are allocated, but Americans all across the nation can benefit from different aspects of the stimulus funds. For example, a large part of The Recovery Act focuses on the nation’s unemployment rate. The jobless situation has had a negative impact on an already suffering economy. The Recovery Act provides numerous provisions for states, and lets them allocate funds to local and community organizations. This is in an effort to create and implement effective employment and reemployment services, as well as better education and training programs. A whopping $535.6 million was allocated to California, under the Workforce Investment Act and Wagner-Peyser Act. Another $587 million of these stimulus funds were also made available to Wisconsin to help them save jobs, and implement reforms.

The federal government allocated various amounts to each state, to be used for specific major categories. All the states have been given funds to distribute, more on a local and community level. Those funds, however, still must be spent in harmony with the major category that they the funds were allocated for. That is why the Wagner-Peyser Act (Employment and Reemployment Services) can take $47 million out of California’s $535.6 million, and apply it towards services to dislocated workers, older workers, and youth.

California’s share of the stimulus funds have already begun to be channeled into services that include paid work experience, summer job programs, training and employment opportunities. Educational funds also include money for books, supplies and transportation. California is one state among many that met the requirements to receive funds earmarked for these particular services, as did Wisconsin.

State Agencies Benefit By Improving Services

The generous amounts of monies were well needed, and are by no means given indiscriminately. The Recovery and Reinvestment Act has tried to ensure that state and local agencies that benefit from pieces of the pie, pass those benefits along to the people they service. In this way, state agencies actually benefit by improving on the services they provide.

Of the $7 billion that was made available for unemployment insurance modernization, the Department of Labor released over $130 to Minnesota. Modernization focuses on updating and improving unemployment benefits and services to all recipients. Minnesota’s unemployment insurance policies are in accordance with modernization. Minnesota met the criteria for the funds by allowing workers to use their more recent earningsto qualify for benefits. This policy is in harmony with the Recovery Act for modernization. Other states can also qualify for a share of the funds when they show that their laws provide the necessary provisions outlined in the Unemployment Insurance Modernization Incentive Payment program guidelines.

Grant Money Available For Individuals

It is no secret that millions of families all across the nation have been hard hit by the plunging economy. That is why the Recovery Act has made it possible for grant money to become available to individuals that qualify. While the nation was struggling to stay on its feet, many households were forced to discover creative ways to make ends meet. Now, some have found that they are not interested in returning to the same dead end jobs that landed them in the unemployment ranks. That is where the Recovery Act comes in and can benefit individuals. Funds from the stimulus package provide grant money that can help people return to school, learn a new career, or even start their own business. Money is also available for first-time buyers, and homeowners who are overdue for needed home repairs. There is a large resource of federal grant money available to individuals, groups and organizations, when they know where and how to apply. Visit:

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