Benefits to green industry and the environment are becoming more clear now that the Senate and House of Representatives have hammered out details of a $789 billion stimulus bill. President Obama said the deal would help “get our economy back on track,” Reuters reports.
The two houses of Congress now must vote on the compromise bill, which within days could reach Obama’s desk.
The bill features $507 billion in spending programs and $282 billion in tax relief. While many details on the bill are still unclear, lawmakers say it contains more than $150 billion in public works projects such as transportation, energy and technology.
According to the San Jose Mercury News, among other line items, the bill contains:
- $8.4 billion for mass transit;
- $8 billion for construction of high-speed railways;
- $6.4 billion for clean and drinking water projects; and
- $7 billion to bring broadband Internet service to underserved areas;
Specifically for energy programs, the bill contains about $50 billion, including:
- $13.9 billion to subsidize loans for renewable energy projects;
- $11 billion toward a smart electricity grid to reduce waste;
- $6.4 billion to clean up nuclear-weapon production sites;
- $6.3 billion in state energy efficiency and clean energy grants;
- $5 billion to weatherize modest-income homes; and
- $4.5 billion to make federal buildings more energy efficient.