| On February 17, 2009, President
Barack Obama signed the American Recovery and Reinvestment Act
(ARRA) to jumpstart the economy, save and create jobs, provide a helping
hand to people affected by the recession, stabilize state and local
budgets, and make investments that will provide long-term economic
benefits.
The ARRA will have a
tremendous impact on the Virgin Islands. The Territory
expects to receive an estimated $244.2 million from the
federal government. This Web site is a window for you
to see first-hand how and where that money is being used to
promote economic recovery in the United States Virgin
Islands We intend to do everything we can to ensure
that the public agencies overseeing these projects do so
with the integrity the public deserves.
This legislation will provide a unique
opportunity for the Government of the Virgin Islands to help enhance the
quality of life for our people.
Under this stimulus bill, the Virgin
Islands will receive more than $244 million in economic benefits over a
two-year period. This will help to:
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Enhance the quality of
our education and health systems |
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Modernize and repair our
schools |
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Strengthen our law
enforcement capabilities |
| - |
Provide needed services
to the unemployed and those persons who have been hardest hit by the
economic storm |
| - |
Improve our
transportation infrastructure |
| - |
Increase our energy
efficiency and cut our utility costs |
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And improve our
environment |
The bill will provide approximately $67
million in fiscal stabilization funding for our local government. These
funds can be used for school modernization and repairs, improvements in
our education programs, as well as for other important government services
and programs.
The stimulus bill also provides tax relief
to the working families in the Virgin Islands. The federal government will
pay for the cost of a $400 tax credit for individuals and $800 for couples
filing jointly. Working families will get a check from the Virgin Islands
Bureau of Internal Revenue (BIR), reimbursed by the federal government,
even if they earn too little to pay taxes. Retirees in the Virgin Islands
who are on Social Security and Veterans who receive Veterans benefits,
will receive a bonus check of $250 from the federal government.
The federal government will increase the
amount of Medicaid assistance it provides for the Territory’s recipients
by 30 percent. Food stamp recipients will also be eligible for an increase
of over 13 percent. Unemployed workers will get extended unemployment
insurance, plus an extra $100 a month in benefits.
The Territory will receive over $30 million
to make our energy systems, our homes, our offices, more efficient and
less reliant on fossil fuels.
Twenty million dollars in transportation
funds will be provided to immediately commence work on shovel-ready
projects, both those already underway and those which only require funding
to begin construction.
The Virgin Islands will also receive $10
million to repair and improve our public housing.
In addition to the areas listed above,
there will be more competitive opportunities for government
instrumentalities and local non-profits to seek additional funding that
has been made available through the ARRA. |
