President Elect Obama on January 3rd released a video highlighting what he refers to as the American Recovery and Reinvestment Program.  This is a brief summary of the 4 minute video, which highlights his plans:

1.  Create 3 million new jobs.  Obama mentions that 80% of these new jobs will be created in the private sector.

 

2.  Double investment in renewable energy production, and renovate public buildings to make them more energy efficient.  In doing so, he is wanting to reduce dependency in foreign oil.

 

3.  Engage contractors across the country to rebuild crumbling infrastructure, particularly roads and schools.  Not only for reinvestment in infrastructure, but to create new jobs.

 

4.  Computerize health care system, to cut red tape, prevent medical mistakes, and reduce health care costs by billions of dollars each year.

 

5.  Create 21st century classrooms, labs and libraries.  To prepare America's children for the world economy.

 

6.  Direct tax relief to 95% of American workers.  This last bit is part is about $300 billion dollars of his $750 billion dollar plan that he plans to implement over the course of 2 years.  Unlike previous rebates that have occurred during the Bush administration, Obama's plan for his tax stimulus rebate would involve simply taking less out of tax payers monthly paychecks.  The amount under his current plan is $500 per individual and $1000 per couple during the year.