Minnesota benefits in economic stimulus package
The U.S. House passed the more than $800 billion stimulus package this week. So what will Minnesota get out of it?
Minnesota could get an estimated $4.5 billion,according to a Star Tribune estimate
. That doesn't count the $500 in tax breaks 2 million Minnesota workers could receive. The 647-page $819 billion stimulus package could create could save or create close to 92,000 jobs in the state, the paper says.
Federal infrastructure outlays in Minnesota -- money for highways, bridges, transit systems , water and other infrastructure projects -- would total about $685 million, a fraction of the state's overall slice of the stimulus. Of that, about $478 million is earmarked for highway and bridge projects, which have taken on greater urgency nationwide since the 2007 collapse of the Interstate 35W bridge in Minneapolis.
The Minneapolis school district would get $64.8 million for repairs and education programs; St. Paul will get $55.1 million.
More job numbers from the Pioneer Press:
About 12,000 unemployed Minnesota workers would get jobs on highway construction projects by the end of June... Around 7,000 of those jobs would be in the Twin Cities area and 5,000 more would be spread around the rest of the state.
Regaining the 65,000 Minnesota jobs lost in 2008 won't happen over night, Smart Politics says. Even if the economy turned around today, it would take more than four years to get back to 2008 levels, they estimate.
"I just think that this is so much foo foo dust that that's coming out with all of these numbers," Owatonna said. "There's no practical way that you can ever come up with these kind of numbers."
Rep. Michele Bachmann reminds us what happens when we spend like it's 1929.
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