Wednesday, April 14, 2010

ARRA helps 3.8 million Coloradans

Posted By on Wed, Apr 14, 2010 at 12:43 PM

Here's some good news: The American Recovery and Reinvestment Act has helped three-quarters of the Colorado population, according to an analysis by the Colorado Center on Law and Policy.


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The agency says the funds will come through more than 140 channels, including benefits to individuals (tax cuts, emergency food and higher unemployment benefits), loans to small businesses, health care and public safety services and investments in emerging industries (green energy, high-speed internet and health care information technology). Colorado has already received $1.07 billion in tax and Social Security benefits, the report says.

Here's a breakdown of who was benefited by the legislation, proposed by President Obama and passed by Democrats without much help from the GOP.

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In fact, El Paso County Commissioner Amy Lathen has often criticized the bill, saying it burdens future generations with debt.

The law center's Colorado Fiscal Policy Institute examined tax provisions in the act.

“The tax provisions in the Recovery Act have lifted tens of thousands of Coloradans out of poverty or prevented them from falling into poverty in the first place,” tax policy analyst Ali Mickelson said in a press release. “The benefits also cross income levels — 98 percent of the nation saw some tax benefit. That was an essential part of lifting our nation and Colorado out of economic recession.”

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