Stimulus Offers Opportunities for SC&RA Members

February 19, 2009 – On Feb. 17, President Barack Obama signed into law a $787 billion stimulus program. Upon signing the bill in Denver, Colo., Obama said the massive government spending and tax cut program opened the road for Americans to begin "laying claim to a destiny of their own making."

In its newsletter today, the Specialized Carriers & Rigging Association, Fairfax, Va., discussed how infrastructure expenditures are of interest to SC&RA members. Over $46 billion is dedicated to transportation projects, including $27.5 billion for highway and bridge construction and repair and another $1.5 billion for discretionary competitive grant programs for surface transportation. In addition to being directly involved in these projects, SC&RA members will also play a role in others, including $1.1 billion for airport improvement, $8.4 billion for mass transit and $8 billion for construction of high-speed railways.

 

There also are a number of tax credits available to SC&RA members. For example, about $20 billion will be available in tax incentives for renewable energy and energy efficiency over 10 years, including extending tax credits for energy produced from wind, geothermal, and hydropower. SC&RA members will benefit by transporting and erecting large components used to produce these facilities.

 

Sprinkled throughout the stimulus plan are other items to boost business. For example, $5 billion will be set aside to extend a provision allowing businesses buying equipment such as computers to speed up depreciation through 2009. And $19 billion will be used to modernize health information technology systems, with another $1 billion dedicated for prevention and wellness programs; this investment ultimately could result in reduced health care premiums.