President Obama ahs signed the Children's Health Insurance Program Reauthorization Act of 2009, and has forecasted what the Stimulus Package will do for Michigan.   

Yesterday, President Obama signed the (State) Children's Health Insurance Program Reauthorization Act of 2009, expanding health insurance coverage to millions of children across the country.  The State Children's Health Insurance Program (SCHIP) provides health insurance coverage to children that do not qualify for Medicaid.  The federal government administers the program, but allows states to design their own program (In Michigan it is MIChild). 

This is significant for Michigan's Children - as Michigan's unemployment rate surpasses 10%, families are losing their health insurance coverage.  However, these families may not fall below the poverty line, which makes their children ineligible for Medicaid.  MIChild is set up to fill the gap between families that do not fall below the poverty line, but still do not earn enough to provide their children with private healthcare coverage.  Michigan's U.S. Representative John D. Dingell and U.S. Representative Bart Stupak we co-sponsors of the House Bill, and the Senate Bill received support from both Senator Debbie Stabenow and Senator Carl Levin. Now is a great time to thank them for their support. 

You can watch a video of President Obama's press conference here: http://www.youtube.com/watch?v=wl1gCF9U2Cc. (And that part where he talks about electronic medical records? It is happening in Michigan: http://mihin.org/)

Oh - and what we've all been waiting for - the Federal Stimulus Package.  Senate Majority Leader Harry Reid (D-Nev) has told reporters that he has the support needed in the Senate to pass the American Recovery and Reinvestment Act of 2009.  It is currently being debated in the Senate. This is big news, considering that previous votes for the legislation were split among party lines.  The package contains numerous provisions, including investments in healthcare, schools, and government infrastructure.  It also includes multiple tax cuts and a boost in spending to the food stamp program and unemployment benefits.  The package has been debated by economists (listen here! http://www.npr.org/templates/story/story.php?storyId=100018973&ft=1&f=94427042) and has caused much debate between Democrats & Republicans - mainly over the sheer cost of the plan ($800 Billion!) and the amount of tax cuts.  If the Democrats compromise and get the votes they need the bill will pass. 

 Ok...let's get to the point:  What does this mean for you?!  Well, according to the White House:

• Creating or saving 115,700 jobs over the next two years. Jobs created will be in a range of industries from clean energy to health care, with over 90% in the private sector. [Source: White House Estimate based on Romer and Bernstein, “The Job Impact of the American Recovery and Reinvestment Plan.” January 9, 2009.]
• Providing a making work pay tax cut of up to $1,000 for 3,910,000 workers and their families. The plan will make a down payment on the President’s Making Work Pay tax cut for 95% of workers and their families, designed to pay out immediately into workers’ paychecks. [Source: White House Estimate based on IRS Statistics of Income]
• Making 121,000 families eligible for a new American Opportunity Tax Credit to make college affordable. By creating a new $2,500 partially refundable tax credit for four years of college, this plan will give 3.8 million families nationwide – and 121,000 families in Michigan – new assistance to put college within their reach. [Source: Center on Budget and Policy Priorities analysis of U.S. Census data]
• Offering an additional $100 per month in unemployment insurance benefits to 1,040,000 workers in Michigan who have lost their jobs in this recession, and providing extended unemployment benefits to an additional 162,000 laid-off workers. [Source: National Employment Law Project]
• Providing funding sufficient to modernize at least 383 schools in Michigan so our children have the labs, classrooms and libraries they need to compete in the 21st century economy. [Source: White House Estimate]
• In addition to this immediate assistance for Michigan, the American Recovery and Reinvestment Plan will help transform our economy by:  
  • Doubling renewable energy generating capacity over three years, creating enough renewable energy to power 6 million American homes.
  • Computerizing every American’s health record in five years, reducing medical errors and saving billions of dollars in health care costs.
  • Launching the most ambitious school modernization program on record, sufficient to upgrade 10,000 schools.
  • Enacting the largest investment increase in our nation’s roads, bridges and mass transit. 

So...what do you think about this?