Similarly, those who buy a new car by the end of the year will be able to deduct the cost of the sales tax.
And many parents of college students will be able to deduct more of the cost of tuition on next year's tax return (as long as they are paying it, of course).
Small businesses will benefit from a provision in the bill that will allow them to carry back their 2008 losses for five years, leaving them with more capital to spend. Some critics question the effect of this and other business-friendly tax breaks, because in a recession business may not have enough tax liability to take advantage of the deductions.
Deloitte's Stretch said he was disappointed that final negotiations on the bill resulted in fewer businesses being able to take advantage of the carry-back provision.
Following along after the direct benefits are funds for projects that can create or preserve jobs.
The federal government will deliver $54 billion in aid to cash-strapped states, with some of the money available to prop up state budgets, help maintain services and keep employees on the job.
A large chunk of funds will be available for upgrading school buildings.
Other money could help keep teachers and day-care workers on the payroll. That alone could save or create hundreds of thousands of jobs nationwide, Democrats say.
Counties, cities and municipalities that receive a chunk of stimulus money are expected to green-light so-called shovel-ready projects, using workers and equipment that otherwise might sit idle. The U.S. Conference of Mayors has projected that such projects could yield 1.6 million jobs by the end of next year.
A provision to spend $10 billion on weatherization and other energy-efficiency upgrades for homes and federal buildings is aimed at benefiting the economy in the midterm. Longer-term, the legislation calls for $20 billion to upgrade the nation's electric grid and $8 billion for high-speed rail projects. There are also large increases in research and development, including $1 billion for NASA and $3 billion for the National Science Foundation.
The National Institutes of Health is a major beneficiary; it will have $10 billion flowing in for biomedical research.
Republicans were critical that the final version of the bill, which was the product of high-velocity negotiations between Democrats and the White House during the week, was not made available to members until Thursday evening.
They said that few had time to review the sprawling 1,000-plus-page document before the Friday votes. Democrats said they had been working on the language since the session began, six weeks ago.
The bill was officially listed at $787 billion Friday, $2 billion less than the estimate from the day before. In spending bills such as this one, the Congressional Budget Office routinely redraws its estimates of the bill's overall cost based on its analysis of the final language.
Mark Silva in our Washington bureau contributed to this report.