Individuals

1. Making Work Pay Credit Expanded Earned Income Credit To Offset Payroll Taxes - 6.2 percent of earned income of the taxpayer, $400 ($800 in the case of a joint return) 

2. Child tax credit, Income threshold reduced to $3,000, provides credit of 15% on all earnings, up to $1,000

3. American Opportunity Education Credits w/ $2,500 credit for first four years of higher education expenses (increase income limitations), with credit partially-refundable (30% refundable); adds course materials to tuitions and fees, increases credit to taxpayers with $80,000 income or households with $160,000
   Opportunity.gov Education Assistance Programs
4. Extends tax credits through 2010 to make energy-efficiency improvements to homes, equal to 30 percent (capped at $1,500) of the amount they paid for energy-efficient furnaces, hot water boilers and other energy savings improvements.
5. 30 percent uncapped tax credit for solar water heating property, small wind energy property and geothermal heat pumps
6. Tax credit for newly unemployed to cover up to 65% of COBRA.  Tenured Workers over 55 can maintain COBRA until they are eligible for Medicare.

Small Business

1. Bonus depreciation for capital expenditures and debt cancellation
2. 5-year carryback of net operating losses for companies earning less than $15 million
3. Extension of increased small business expensing, $250,000 deduction direct from tax liability
4. Defer taxes five years on debt cancellation
5. Expand work opportunity tax credit for disconnected youth and unemployed, recently-discharged veterans
6. Prospectively repeal Treasury Section 382 built-in loss ruling, that helped the Wells Fargo acquisition of Wachovia.

New Small Business Size Eligibilities

State and Local Governments

1. Allow financial institutions to purchase State and local bonds and other changes
2. Coordination provisions with new grant program for low-income housing being designed by the Financial Services Committee   
3. Repeal AMT limits on new private activity bonds
4. Taxable bond option for governmental bonds
5. Clean renewable energy bonds
6. One year deferral of withholding tax on government contractors    
7. Provide tax exempt bonds and tax credit bonds to "recovery zones." These tax exempt bonds and tax credit bonds can be used for a wide array of purposes to stimulate economic development, including job training and education. A "recovery zone" would be an area within a State, city or county that has exhibited high unemployment, foreclosures or poverty. These bonds would be allocated automatically to States and large municipal governments based on the number of unemployed individuals within that area.

 Energy Incentives

Ten Best ARRA Energy Projects
Weatherization Assistance Program