What Will Stimulus Money Do For You?

By: | NBC4i.com
Published: February 16, 2009

COLUMBUS, Ohio -- President Barack Obama is expected to sign his nearly $790 billion stimulus plan into law on Tuesday in Denver.

The White House said he wants to highlight how the plan will help the economy and real Americans.

The bottom line? The bill is expected to create 3.5 million jobs, NBC 4's Marcus Thorpe reported.

From cleaning up abandoned homes and building high speed rail lines to fixing up Americans highways, bridges and schools, how will you benefit from the President's plan?

The hope is that Americans will be inspired to spend whether it's on a new car or new home -- or add to your savings.

If you already spending on things like college, you'll be able to save.

As stimulus dollars roll in, realtors are starting to see a bit of a rise in business.

"Working with six buyers, it jumped -- what I was hoping for," said Daniel Swick, a realtor.

The money could help speed up the process. First-time home buyers would receive an $8,000 tax credit and they wouldn't have to repay the government later.

"We have to get the first-time home buyers moving to trigger local chain reaction that will help two or three other local home sales," Swick said.

But is it enough?

Swick said he is worried that too much government intervention could be a short-term fix, but lead to even longer problems if financial education isn't included in the release.

For college students, any help with costs is welcomed.

Under the stimulus plan, college-bound students will be watching closely.

Parents of college students would be eligible to claim a tax credit of up to $2,500.

Sara Skarsten is a freshman at Columbus State Community College, but would like to help out her parents with college costs.

"It definitely would be nice to take that cost away," she said.

There are some provisions to reward people for weatherizing their homes. A $25 increase in weekly benefit checks for the unemployed, and lengthen the period in which people can be eligible for extended unemployment benefits.

Search our State-By-State Database of the proposed stimulus distribution:

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