Marino on Money: April 16

This week, we discussed the main agencies, which will receive stimulus money. The biggest dollar amounts go to Medicaid, education, and food stamps.

Who else will benefit from incentives? New car buyers can deduct their sales tax up to a limit. First time homebuyers also have a great incentive. Anyone unemployed will receive $25 per week more, their benefits may be extended for another six months, and the government will subsidize 65% of the cost of their health insurance under COBRA.

There are many more programs, which lower to middle income families will qualify for. Unless you are successful in business or have a higher income, you should receive some type of direct benefit from the stimulus package.

Next week we’ll answer the questions: Who are we borrowing from to pay for this? Can we ever repay it?

If you have any questions, click on Marino on Money, and send us a question.

Ross Marino will be answering questions right here on our 5 o’clock news every Tuesday, Wednesday and Thursday.