Infrastructure-
School Construction and Repair: Phased up to an additional $12.5 billion per year, the rest to be matched by the states.
Transportation Infrastructure:
* Highways and bridges: Ramping up federal investment to an additional $14 billion per year, with 50% state match.
* Transit: Federal transit funding of an additional 12% over TEA-21 levels, roughly $1 billion per year.
* Rail: Provide an additional $3 billion per year to move American into the era of high-speed rail.
Homeland Security: $13 billion a year in increased homeland security expenditures -- sufficient, when matched 50-50 by state and local dollars, to fully fund the nation's outstanding port security and first responder needs.
Technology:
* Basic Research: A 10% increase in appropriations for basic research -- about $3 billion above the baseline -- each year.
* Broadband: Current federal funding of about $3 billion per year will double, with the requirement of a state or local match; this will bring public sector investment to a total of $12 billion a year -- roughly one-third of what's needed to make this technology universal. This should leverage the private sector investment necessary to cover the country's entire projected need.
* Renewable Energy: The Graham Energy plan would cost approximately $4.5 billion dollars a year.
* Expand incentives to invest in these technologies and to purchase alternative fuel cars, including funding to replace Bush's Hydrogen Car Program with a serious hydrogen effort, R&D tax credits for companies researching affordable solar home construction, and an investment tax credit for innovative building technologies, including high efficiency furnaces and gas-fired heat pumps
* Increased funding for DOE and EPA research and development.
* Reinstate and expand the Solar Roofs Initiative to meet a goal of 10 million solar roofs by 2015.
* Help pay for these initiatives by eliminating the tax loophole that allows companies to deduct 100% of their Humvee and other tax and spending subsidies for environmentally harmful activities, saving about $2 billion per year, and outfitting federal buildings with advanced solar electrical systems to save the federal government $1 billion a year in energy costs.
Environmental Infrastructure: Provide a 50-50 matching fund available to all states to meet their drinking water and wastewater infrastructure needs, totaling $10 billion a year for the next twenty years, and raise funding for national parks by $600 million dollars a year, which will eliminate the maintenance gap over ten years.
Economic Stimulus-
* If the economy is still in recession in 2005, put more money into the hands of working Americans who are likely to spend it by taking the first $10,000 of earned income of every American out of taxation under the payroll tax.
* Permanently extend AMT relief for individuals and families
* Extend marriage penalty repeal.
* Extend and maintain the child credit at its highest level of $1000 per child.
* An income tax deduction for up to the full cost of purchasing of long-term care insurance and a caregiver tax credit that phases in after four years to $3000 for taxpayers with long-term care needs.
* Opportunity for All education & training credit will provide nearly $40 billion a year in tax relief to middle class families for advanced education and job training.
Balance Budget Within 5 Years.
Create More Than 3 Million New Jobs.
Opportunity for All-A Plan for America's Economic Renewal Bob Graham
PDF of full plan