ARRA mandated government spending, tax cuts, and loan guarantees to jumpstart the ailing economy. It targeted financial relief for families, infrastructure, alternative energy sourcing, health care, education, small businesses, and scientific research and development.
How much is the new stimulus package?
How big are the stimulus payments, and who is eligible? The stimulus payments will be $1,400 for most recipients. Those who are eligible will also receive an identical payment for each of their children. To qualify for the full $1,400, a single person must have an adjusted gross income of $75,000 or below.
What did the Recovery Act do?
The American Recovery and Reinvestment Act of 2009 (Recovery Act) – which President Obama signed into law on February 17th, 2009 – was an unprecedented action to stimulate the economy. It included measures to modernize our nation’s energy and communication infrastructure and enhance energy independence.
What’s the name of Obamas economic stimulus plan?
To receive The Progress Report in your email inbox everyday, click here. Today, President-elect Obama is moving forward with what he has billed as his top priority: an economic stimulus package called the “American Recovery and Reinvestment Plan.”
Who are the leaders of the stimulus package?
Today, President-elect Obama is moving forward with what he has billed as his top priority: an economic stimulus package called the “American Recovery and Reinvestment Plan.” He is scheduled to meet with House Speaker Nancy Pelosi (D-CA) and Senate Majority Leader Harry Reid (D-NV), and possibly the Republican leaders in both chambers.
When was the stimulus bill passed by Congress?
President Obama’s stimulus package, the American Recovery and Investment Act of 2009, was passed by Congress on February 13, 2009 and signed into law by the President four days later.
What was the cost of the stimulus package?
The approximate cost of the economic stimulus package was estimated to be $787 billion at the time of passage, later revised to $831 billion between 2009 and 2019.
