February 24, 2009
On Tuesday, February 17, 2009 President Barack Obama signed the $787 billion economic stimulus package which provides approximately $500 billion in spending and $287 billion in tax breaks. Substantial sums of money are dedicated to address environmental concerns. The big “winners” as far as allocated dollars for environmental spending were clean water projects and defense site cleanups. A total of $6 billion was allocated to local clean water projects. Another $6 billion was allocated to the cleanup of former weapon production and research sites, many of which are located on federal lands.
New energy spending includes $4.5 billion to improve energy efficiency of federal buildings and $11 billion to modernize the electricity grid. $3.4 billion was set aside for fossil energy research and development and $5 billion for weatherization research. Approximately $6.3 billion is available for energy efficiency conservation grants and $6 billion for new loan guarantees for wind and solar projects.
Other environmental programs also received funding at lower, but still significant, levels:
Superfund site cleanups received $600 million.
Leaking underground storage tank cleanup received $200 million
Brownfields projects received $100 million.
During the weeks and months ahead, federal agencies including the U.S. Environmental Protection Agency, will be involved in the allocation of these monies to specific projects across the country. For more information on stimulus package please see the following links:
http://www.environmentalleader.com/2009/02/06/100-billion-in-stimulus-for-green-programs/ and http://www.reuters.com/article/ObamaEconomy/idUSTRE51B7BM20090212?feedType=RSS&feedName=ObamaEconomy&virtualBrandChannel=10441
At Hessian & McKasy, the lawyers in the Environmental Law Attorney Practice Group track developments on the federal and state level that affect our clients.
The views expressed here are my own and do not reflect the views of my employer, Hessian & McKasy. P.A.
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