Stimulus Goodies

by: Chris Bowers

Fri Feb 13, 2009 at 12:30

Details in the extended entry.

1. Senator Dodd's executive pay limits stayed in the final bill: Senator Chris Dodd vowed to take back the executive bonuses for banks receiving TARP money, and it appears that he has succeeded in doing just that. His executive pay amendment to the stimulus, which I reproduced here, has made it into the final legislation, according to Elana Schor.

2. Mass transit funding significantly increased: Remember when we were worried about the lack of mass transit funding in the stimulus package, and worked to increase funding from $10 billion to $13 billion? Well, it turns out that the final stimulus bill provides at least $17.7 billion for mass transit, due to $8 billion for high-speed rail SUPERTRAINS that came in at the end. This is a real success!
   

3. Buy American and Anti-Outsourcing provisions included: Another aspect of the stimulus package we have been following closely here on Open Left are the Buy America and anti-outsourcing provisions President Obama promised to include in the stimulus. As David reported early today, those promises have been fulfilled..

4. Net Neutrality in the Stimulus bill: As I reported yesterday, there had been fears about anti-network neutrality language being inserted into the job stimulus package during the conference report. That, however, didn't happen. There are still concerns that only part of the broadband spending in the stimulus are covered by net neutrality language, although that is still as murky as it was two weeks ago. Harold Feld has more on what the stimulus package does, and does not do, for broadband access and net neutrality.

5. Representative Clyburn requires states to spend money in 45 days: Representative Clyburn managed to insert a provision into the stimulus that will not only help the bill stimulate the economy faster, but which will put Republicans in a awkward political position:

   A devilishly clever last-minute insert to the House version of the stimulus bill has made it through the conference report -- a requirement that governors spend their stimulus allocations within 45 days.
   

   The provision isn't likely to have a real-world impact, but it forces Republican governors who opposed the stimulus (e.g. South Carolina's Mark Sanford)  and many other GOP governors who sat on the fence for fear of bucking their party -- to publicly accept or decline the aid. And when they do accept it -- and it's hard to see a scenario where they wouldn't given their deficits --  Democrats get to call them craven or hypocritical or both.

6. Stimulus support rises as President Obama campaigns for it: To top it off, the stimulus package has become more popular over the last week as well. The same numbers are seen across Gallup, Democracy Corps, and Rasmussen.

All around, I am feeling pretty good right now. Despite the cuts, this is still a real victory. And, as I have been saying, let's make sure that this is just a starting point from which our legislative and political prospects only improve.