NORWALK - Many Connecticut residents are curious how their lives will be affected after the U.S. Senate passed President Barack Obama?s $787 billion stimulus package Friday.
According to lawmakers, the stimulus package will give nearly $3 billion in direct aid to Connecticut. Sen. Chris Dodd says it will help the state create and retain approximately 41,000 jobs and help about 288,000 unemployed residents obtain additional unemployment insurance benefits.
In addition to creating and retaining jobs and aiding those who are unemployed, the stimulus will provide $8,000 tax cuts to first-time home buyers who close deals before Dec. 1 and first-time car buyers will be able to write off their sales tax. Additionally, middle class residents will receive an extra $13 a week with new tax cuts. The stimulus will provide about $66 million to help Connecticut families reduce their energy bills and $1,500 tax cuts to homeowners who add energy efficient windows, furnaces and air conditioners.
The families of about 96,000 children will also be able to claim an expanded child tax credit. An updated tuition tax credit is also embedded in the stimulus; it will provide families with $2,500.
Opponents of the package worry that a large financial burden will be placed on future generations and that the stimulus does too little to provide immediate economic relief.