President Obama just announced he wants to use some $200 billion in unused TARP money to give the economy another kick in the pants toward prosperity. Included in the plan is a provision for the much-rumored “Cash for Caulkers” program, in which homeowners would receive rebates for certain home improvement projects.
It would provide additional funds for a wide range of infrastructure projects on highways, transit, rail, aviation and water.
Finally, the plan would include a so-called “Cash for Caulkers” incentive program that would provide rebates for consumers who make energy efficient retrofits on their homes.
“Given the challenge of accelerating the pace of hiring in the private sector, these targeted initiatives are right and they are needed,” Obama said. “But with a fiscal crisis to match our economic crisis, we also must be prudent about how we fund it. So to help support these efforts, we’re going to wind down the Troubled Asset Relief Program, or TARP.”