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Stimulus Aid Is Said to Be Moving Faster
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| Contributor | Jason |
| Last Edited | Jason Jul 11, 2009 05:07am |
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| Category | General |
| Media | Newspaper - Wall Street Journal |
| News Date | Saturday, July 11, 2009 11:00:00 AM UTC0:0 |
| Description | WASHINGTON -- The Obama administration says it has been on a "learning curve" with the economic-stimulus package but has figured out how to spend some of the available billions more quickly.
Many tax cuts, which account for about one-third of the $787 billion package, have already taken effect. But only $60.4 billion of the remaining $499 billion has been spent. Most of the money was always likely to be spent this summer at the earliest as departments wrestled with the increased workload and new requirements imposed by the bill.
The White House says it isn't changing its goal of spending 70% of the funds by September 2010. But amid worries about steep unemployment, the administration has been pressuring agencies to get some money out the door more quickly.
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