Notice

Stimulus.org is a historical project of the Committee for a Responsible Federal Budget, which tracked the money spent by the 2009 stimulus bill. This site is not regularly updated.

Tax Credit Bonds

Date: 
March 18, 2010
Who: 
IRS
Policy Area: 
Other
Economic Target: 
Other
Action Type: 
Tax Break
Maximum Amount: 
$2.29 billion
Amount Spent: 
$2.29 billion
Deficit Impact: 
-$0.16 billion

The Hiring Incentives to Restore Employment Act included tax credits on qualifying bonds.

Also included in the Hire Act were provisions creating incentives for hiring unemployed workers.

Notes: 

Maximum amount reflects the lost revenue from the tax provisions over a 10-year period. Deficit impact reflects the total net cost of the provision in proportion to the total net cost of -$1.1 billion for the bill. Offsets totaled $16.7 billion, stemming largely from foreign account tax compliance and a delay in implementing worldwide interest expense allocation until 2020.

Amount spent unknown.