What does the federal stimulus program mean for Wake County residents?
The American Recovery and Reinvestment Act (ARRA or stimulus) was passed by Congress in February. While the final amount of funding that will come to Wake County is still undetermined, this section of our website provides information to our citizens about what Wake County is doing with stimulus funding and how residents can take advantage of projects and programs in the ARRA. This site will be updated regularly, so anyone can see the money coming into Wake County and how it is being spent.
How much funding is coming to North Carolina and Wake County?
The State of North Carolina estimates that it will receive $6.1 billion, which is broken out on its website.
The Office of Economic Recovery has indicated the funding that will be used in and around Wake County. A stimulus update was presented to the Board of Commissioners at its regular meeting on June 20, 2009.
What types of programs are available to taxpayers?
There are several tax credits that individuals can take advantage of for their 2009 federal income taxes.
- Deducting state and local sales taxes for certain vehicles purchased in 2009 from federal income taxes
- Deducting a greater amount from their federal income taxes for employer-provided commuter vehicle or parking benefits
- Up to $8,000 federal tax credit for a first-time homebuyer
- The Internal Revenue Service will withhold $400 less from the paychecks of single taxpayers and $800 less from couples. For those who qualify, it equates to about $10 more per week this year and $8 more per week in 2010.
What types of programs are available for workers who have recently been laid off?
The Capital Area Workforce Development Board, which serves both Wake and Johnston counties, has been awarded $500,000 for underemployed workers, $1.3 million for workers who have been recently laid off through no fault of their own and $1.3 million for employing youth ages 16–24 for seven weeks in the summer.
What types of programs are available to citizens who need assistance such as food stamps or health coverage?
The state is awarding more coverage for food stamps, unemployment insurance and COBRA Health Care Coverage for workers who have recently been laid off. Wake County Human Services is also receiving funding from the state for some assistance programs.
What does Wake County plan to do with CDBG-R funds?
Wake County is receiving $380,721 in Community Development Block Grant – Recovery (CDBG-R) funds. The federal government is strongly encouraging grantees to use CDBG-R funds for hard development costs associated with infrastructure and public facilities activities that provide basic services to residents or activities that promote energy efficiency and conservation through rehabilitation or retrofitting of existing buildings. The proposed CDBG-R budget is summarized below.
Proposed Wake County CDBG-R Budget:
Cornerstone Building HVAC System Upgrade: $38,000
Crosby Garfield Building Electrical/Fire Alarm: $315,000
View the full plan and project descriptions.