RTTNews - The Obama Administration marked the 100th day of the passage of the $787 billion economic stimulus package Wednesday, praising the sweeping legislation as helping to get the economy back on track. Over $112 billion of the stimulus funds has already been allocated, according to a report released to detail the progress of the legislation.
Speaking at an event in Boston, Treasury Secretary Timothy Geithner called the stimulus the most sweeping economic recovery package in our nation's history, and praised its tax cuts, investment in infrastructure, and dedication to education and green energy. Specifically, Geithner noted that the stimulus has substantially expanded the New Markets Tax Credit Program, which is designed to give investors incentive to take a chance on communities.
There have been 32 new tax credit awardees since the stimulus was enacted, allowing the continuation of a great program of smart policy at modest cost, Geithner said.
The president himself commented on the steps taken since he took office in the midst of one of the worst recessions in generations. In a statement, Obama released a report on the progress of the stimulus funds and announced that over $467 million will be invested in energy saving technology.
While in Nevada, Obama plans to speak on the stimulus package. In a statement, he explained that the $467 million in energy will go to expand and accelerate the development, deployment, and use of geothermal and solar energy throughout the United States.
We can remain the world's leading importer of oil, or we can become the world's leading exporter of clean energy, Obama said in a statement. We can hand over the jobs of the future to our competitors, or we can confront what they have already recognized as the great opportunity of our time: the nation that leads the world in creating new sources of clean energy will be the nation that leads the 21st century global economy.
One hundred days after the plan was passed on February 17th, we are meeting our economic challenges head-on and beginning to see early signs of progress across the country, Obama said.
He referenced the construction of a highway in Southern California, infrastructure investment made possible due to a near $190 million investment from the stimulus package.
From $190 million to a $2 million investment in a family-owned trucking business in Maine, Obama praised the use of the stimulus money.
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