http://www.spacex.com/falcon_heavy.php Falcon Heavy Overview
Click here to view the Falcon Heavy press conference.
Falcon Heavy, the world’s most powerful rocket, represents SpaceX’s entry into the heavy lift launch vehicle category. With the ability to carry satellites or interplanetary spacecraft weighing over 53 metric tons (117,000 lb) to Low Earth Orbit (LEO), Falcon Heavy can lift nearly twice the payload of the next closest vehicle, the US Space Shuttle, and more than twice the payload of the Delta IV Heavy.

Liftoff of Falcon Heavy. Click to play animation.With over 3.8 million pounds of thrust at liftoff, Falcon Heavy will be the most capable rocket flying. By comparison, the liftoff thrust of the Falcon Heavy equals fifteen Boeing 747 aircraft at full power.
SAVING THE USA $1B ANNUALLY
If allowed to compete, SpaceX can help the Department of Defense save at least one billion dollars annually in space launch services, while providing a truly independent family of vehicles to help assure access to space.
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Falcon Heavy with more than twice the payload but less than one third the cost of a Delta IV Heavy, will provide much needed relief to government and commercial budgets. This year, even as the Department of Defense budget was cut, the EELV launch program, which includes the Delta IV, still saw a thirty percent increase.
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