Obama's stimulus package

While the details are still being drafted, President-elect Barack Obama said yesterday that his proposed stimulus package, estimated to cost $775 billion over two years, would include both tax cuts and government spending.

Reduce federal payroll taxes by $500 for individuals, $1,000 for couples.

Allow businesses to write off more losses and depreciate assets more quickly.

Extend benefits and healthcare coverage for unemployed.

Provide direct aid to cash-strapped states.

Repair roads, bridges, and schools.

Double production of alternative energy in the next three years.

Modernize federal buildings and improve energy efficiency of 2 million homes.

Computerize medical records within five years.

Equip schools, community colleges, and universities with modern classrooms, labs, and libraries.

Expand Internet broadband across the country.

Invest in science, research, and technology.