| 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:
| - |
Enhance the quality of our education and health systems |
| - |
Modernize and repair
our schools |
| - |
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 |
| - |
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. |
