The American Recovery and Reinvestment Act of 2009 was signed into law by President Obama on February 17th, 2009. [77] A 2013 study by economists Stephen Marglin and Peter Spiegler found the stimulus had boosted GDP in line with CBO estimates. American Recovery and Reinvestment Act of 2009: investment in Hawaii: hearing before the Committee on Appropriations, United States Senate, One Hundred Eleventh Congress, second session, special hearing, July 7, 2010, Honolulu, HI. Home > Bills > H.R. $750 million for the construction of new public rail transportation systems and other fixed guideway systems. : Public Health and Social Welfare, Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, were primarily written by Democratic congressional committee leaders and their staffs, Address Before a Joint Session of Congress (February 24, 2009), 2009 Address Before a Joint Session of Congress, Address Before a Joint Session of Congress (February 24, 2009) (audio), Health Information Technology for Economic and Clinical Health Act, Transportation Investment Generating Economic Recovery, International Boundary and Water Commission, Office of Electricity and Energy Reliability, Energy Efficiency and Conservation Block Grants, Department of Housing and Urban Development, commercial crew space transportation concepts and enabling capabilities, National Oceanic and Atmospheric Administration, National Institute of Standards and Technology, Nobel Memorial Prize in Economic Sciences, Democratic Congressional Campaign Committee, President's Economic Recovery Advisory Board, Recovery Accountability and Transparency Board, Internal Revenue Service Restructuring and Reform Act of 1998, 2009 energy efficiency and renewable energy research investment, Economic Recovery and Middle-Class Tax Relief Act of 2009, "Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output from October 2011 Through December 2011", "Senate passes $787 billion stimulus bill", "About That Next Bailout: One Big Lesson from 2009", https://web.archive.org/web/20110610211330/http://clerk.house.gov/floorsummary/floor.html?day=20090126&today=20100630, "Obama seeks congressional consensus on stimulus plan", "House Passes Stimulus Plan Despite G.O.P. The ARRA is intended to save existing jobs and create new jobs, spur spending by business and consumers, and lay a foundation for renewed economic growth and prosperity. Reveals lesser-known aspects of the stimulus bill while explaining how the Obama administration's progressive steps have prevented an imminent depression while supporting clean energy, health care, education reform, and other positive ... This report discusses the economic impact of the transportation infrastructure funding in ARRA. A statement released by the USDA the same day corrected the allegation, stating that "references to '2 pound frozen ham sliced' are to the sizes of the packaging. When the American Recovery and Reinvestment Act of 2009 passed it included $19.2 billion for health information technology allocated to help hospitals and physicians' offices for implementation . This accounts for nearly one-third of the entire $3 billion of Department of Interior Recovery Act funding. $13 billion: to extend tax credits for renewable energy production (until 2014). The American Recovery and Reinvestment Act of 2009 (ARRA) (Pub.L. $25.1 billion to provide a 65% subsidy of health care insurance premiums for the unemployed under the, $10 billion for health research and construction of National Institutes of Health facilities, $1.3 billion for construction of military hospitals, $1.1 billion to study the comparative effectiveness of healthcare treatments, $300 million to train healthcare workers in the, $202 million for a temporary moratorium for certain Medicare regulations, $53.6 billion in aid to local school districts to prevent layoffs and cutbacks, with flexibility to use the funds for school modernization and repair (State Fiscal Stabilization Fund), $13 billion for low-income public schoolchildren, $300 million for increased teacher salaries, $250 million for states to analyze student performance, $200 million to support working college students, $70 million for the education of homeless children, $40 billion to provide extended unemployment benefits through December 31, and increase them by $25 a week, $14.2 billion to give one-time $250 payments to, $3.2 billion in temporary welfare payments (TANF and WIC), $500 million for vocational training for the disabled, $120 million for subsidized community service jobs for older Americans, $100 million for meals programs for seniors, such as, $27.5 billion for highway and bridge construction projects, $8 billion for intercity passenger rail projects and rail congestion grants, with priority for, $6.9 billion for new equipment for public transportation projects (, $1.5 billion for national surface transportation discretionary grants, $1.1 billion in grants for airport improvements. The economic stimulus package helped end the Great Recession by spurring consumer spending. Economist Dean Baker commented: [T]he revised data ... showed that the economy was plunging even more rapidly than we had previously recognised in the two quarters following the collapse of Lehman. The American Recovery and Reinvestment Act of 2009: an update: hearing before the Committee on the Budget, House of Representatives, One Hundred Eleventh Congress, second session, hearing held in Washington, DC, July 14, 2010. This included Nobel Memorial Prize in Economic Sciences laureates Edward C. Prescott, Vernon L. Smith, and James M. Buchanan. [6] Most economists have argued that the stimulus was smaller than needed. The two senators did concede that the stimulus has had a positive effect on the economy, though they criticized it for failing to give "the biggest bang for our buck" on the issue of job creation. House â $47 billion for transportation projects, including $27 billion for highway and bridge construction and repair and $12 billion for mass transit, including $7.5 billion to buy transit equipment such as buses; and $31 billion to build and repair federal buildings and other public infrastructures. The ARRA logo may be obtained from the EPA grants office listed in this award document. [120], American Recovery and Reinvestment Act of 2009, Comparison of the House, Senate and Conference versions, Spending (Senate â $552 billion, House â $545 billion), Aid to low income workers, unemployed and retirees (including job training), Water, sewage, environment, and public lands, Communications, information, and security technologies, Energy efficiency and renewable energy research and investment, Developments under the Act and estimates of the Act's effects, See, for example: S.Amdt. President Barack Obama signed the American Recovery and Reinvestment Act (ARRA) on February 17, 2009. Robert Steinbrook, M.D. As well, the President named Inspector General of the United States Department of the Interior Earl Devaney and the Recovery Accountability and Transparency Board (RATB) to monitor administration of the Act, and prevent low levels of fraud, waste and loss in fund allocation. The aspects of the stimulus expected by the NABE to have the greatest effectiveness were physical infrastructure, unemployment benefits expansion, and personal tax-rate cuts. American Recovery and Reinvestment Act of 2009 Author: amy.mitchell1 Last modified by: angela.mathews Created Date: 8/7/2009 7:35:00 PM Company: USDA Other titles: American Recovery and Reinvestment Act of 2009 Hatch sent a letter to the IRS and Treasury Department with a list of questions about the program. This book provides a brief overview of the key provisions of the ARRA including the agriculture, nutrition, and rural provisions; medicaid provisions; a summary and legislative history of the Act; and the estimated impact on employment and ... [citation needed], Some of the tax incentives in the Act, including those related to the American opportunity tax credit and Earned Income Tax Credit, were extended for a further two years by the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. Recovery Act. Through the American Recovery and Reinvestment Act of 2009 (ARRA), the National Park Service will invest $750 million in nearly 800 projects throughout the country. [5] Only three Republican senators voted for it. The FCC worked in coordination with the National Telecommunications and Information Administration (NTIA) to perform the FCC's role under the Recovery Act. [85] The section of the act that was intended to establish and regulate the operation of Recovery.gov was actually struck prior to its passage into law. The sum of outlays and tax cuts up to this point was $666 billion. 1 would specify appropriations for a wide range of federal programs and would . ", "18 M Spent To Redesign Recovery.gov Web Site", "Response to Drudge Item on Recovery Act Funding â Statement from Agriculture Secretary Tom Vilsack", CBO Monthly Budget Review â October 2009, "Employment, Hours, and Earnings from the Current Employment Statistics survey (National)", "NABE Panel: A Mixed Scorecard for Economic, Financial System Remedies", "Economic Scene: Judging Stimulus by Job Data Reveals Success", "Update 2-US stimulus added up to 2.1 mln jobs in Q4 2009-CBO", Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output, "Corrected â Update 2-Stimulus raised GDP by up to 4.2 pct in Q1 2010 -CBO", Fiscal Spending Jobs Multipliers: Evidence from the 2009 American Recovery and Reinvestment Act, http://www.cbo.gov/ftpdocs/99xx/doc9987/Gregg_Year-by-Year_Stimulus.pdf, "US debt deal: how Washington lost the plot", "Hypocrisy Alert: 128 House Republicans Take Credit for the Economic Bills They Opposed", "Reboot America â Manifesto Support Surges", "The Economic Impact of the American Recovery and Reinvestment Act of 2009", "GOP slams stimulus plan with list of 100 worst projects", "Obama Considers Major Expansion in Aid to Jobless", "Obama Hopes 'Recovery Summer' Will Warm Voters to the Stimulus", "Tax Cut Extension Bill Wends Its Way to White House", "Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output from July 2011 Through September 2011", "Ahead of Election, Obama Stops Releasing 'Stimulus' Reports", "Obama Continues to Violate His Own 'Stimulus' Law by Not Releasing Quarterly Reports", "Labor Force Statistics from the Current Population Surve", "White House: Stimulus was good for economy; GOP says big spending produced little results", "Obama picks F&M alum to oversee stimulus plan", "Interior IG Brings Detective's Zeal to Stimulus Watchdog Post", "Senior Senator Launches Inquiry on 'Green Energy' Grants", Complete text of enacted statute at Wikisource, Full Video of The American Recovery and Reinvestment Act of 2009 signing ceremony on February 17, 2009 (from C-SPAN), Vice President Biden and President Obama speeches on the 1-year anniversary of the ARRA (from C-SPAN), Council of Economic Advisers-The Economic Impact of the ARRA Five Years Later â February 2014, Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output in 2014, Effect of the American Recovery and Reinvestment Act on 33 economic indicators, Office of Federal Housing Enterprise Oversight, ChinaâJapanâSouth Korea trilateral summit, DoddâFrank Wall Street Reform and Consumer Protection Act, Emergency Economic Stabilization Act of 2008, Term Asset-Backed Securities Loan Facility, Fraud Enforcement and Recovery Act of 2009, Housing and Economic Recovery Act of 2008, National fiscal policy response to the Great Recession, List of banks acquired or bankrupted during the Great Recession, Effects of the Great Recession on museums, United States federal taxation legislation, Joint session of Congress (health care reform), Illinois State Senate election, 1996, 1998, 2002, 2000 Illinois's 1st congressional district election, Republican and conservative support (2008), Inaugural Celebration at the Lincoln Memorial, By the People: The Election of Barack Obama, https://en.wikipedia.org/w/index.php?title=American_Recovery_and_Reinvestment_Act_of_2009&oldid=1039351390, United States federal financial legislation, United States federal housing legislation, Short description is different from Wikidata, Articles with unsourced statements from December 2011, Articles with unsourced statements from February 2018, Articles with unsourced statements from April 2016, Articles with unsourced statements from April 2012, Articles with dead external links from June 2020, Articles with permanently dead external links, Creative Commons Attribution-ShareAlike License. Senate â Reduces the amount that can be refunded to low-income families that pay no income taxes, lowering the cost to $13 billion. 3 . of Education), $130 million for rural community facilities (Department of Agriculture), $100 million emergency food and shelter for homeless (Department of Homeland Security), $230 million for NOAA operations, research and facilities, $1.1 billion in waivers on interest payments for state unemployment trust funds, $1 billion in added funding for child support enforcement, $749 million in crop insurance reinstatement, and emergency loans for farmers, $730 million in SBA loans for small businesses, $201 million in additional funding for AmeriCorps and other community service organizations, $150 million for Urban and Rural economic recovery programs, $150 million for an increase of claims processing military staff, $150 million in loans for rural businesses, Real GDP was boosted by an average ranging from a low of 1.7% to a high of 9.2%, The unemployment rate was reduced by an average ranging from a low of 1.1 percentage points to a high of 4.8 percentage points, Full-time equivalent employment-years was boosted by an average ranging from 2.1 million to 11.6 million, Total outlays were $663 billion, of which $97 billion were refundable tax credits, This page was last edited on 18 August 2021, at 06:12. 111-5 (text) (pdf)), nicknamed the Recovery Act, was a stimulus package enacted by the 111t. A link to the full cost estimate can be found here. On February 17 . 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. [1] The ARRA's rationale was based on the Keynesian economic theory that, during recessions, the government should offset the decrease in private spending with an increase in public spending in order to save jobs and stop further economic deterioration. 111-5 (text) (pdf)), nicknamed the Recovery Act, was a stimulus package enacted by the 111t. Senate â $3.5 billion in grants to state and local law enforcement to hire officers and purchase equipment. Senate â $55 billion in state fiscal relief to prevent cuts in education aid and provide block grants; $25 billion to school districts to fund special education and the. Found insideDrawing on more than two hundred interviews and nationwide field research, Governing under Stress examines a range of ARRA stimulus programs to analyze the fraught politics, complex implementation, and impact of the legislation. Conference â Tax Credit reduced to $400 per worker and $800 per couple in 2009 and 2010 and phaseout begins at $75,000 for individuals and $150,000 for joint filers. Did you know? The economists denied the quoted statement by President Obama that there was "no disagreement that we need action by our government, a recovery plan that will help to jumpstart the economy". On January 23, Speaker of the House Nancy Pelosi said that the bill was on track to be presented to President Obama for him to sign into law before February 16, 2009. February 11, 2010. The American Recovery and Reinvestment Act of 2009 The grandest experiment yet in the history of U.S. fiscal policy may be the American Recovery and Reinvestment Act of 2009 that was passed into law by Congress on February 13, 2009 and signed by President Obama four days later at a ceremony in Denver. In February 2014, the White House stated in a release that the stimulus measure saved or created an average of 1.6 million jobs a year between 2009 and 2012, thus averting having the recession descend into another Great Depression. [99], The Democratic Congressional Campaign Committee (DCCC) established a "Hypocrisy Hall of Fame" to list Republican Representatives who had voted against ARRA but who then sought or took credit for ARRA programs in their districts. This month marks the seven-year anniversary of the American Recovery and Reinvestment Act (Recovery Act). Within the Recovery Act, $50 million was appropriated to support states in the prevention and reduction of healthcare associated infections (HAI). Conference â The Conference Report merged most education aid with the State Fiscal Stabilization fund (administered by the Department of Education) and gave power over the funds to each governor under voluminous restrictions. In September 2015, the U.S. government asked that a Spanish company return $1 million it had received from the program. The American Recovery and Reinvestment Act of 2009 (ARRA) (Pub.L. The American Recovery and Reinvestment Act of 2009: an update : hearing before the Committee on the Budget, House of Representatives, One Hundred Eleventh Congress, second session, hearing held in Washington, DC, July 14, 2010. $4.7 billion: Expanded earned income tax credit to increase the. The change would increase taxes on the merged banks by $7 billion over 10 years. [18] In addition to the Vice President Biden's oversight role, a high-level advisory body, the President's Economic Recovery Advisory Board (later renamed and reconstituted as the "President's Council on Jobs and Competitiveness"), was named concurrent to the passage of the act. - the American Recovery and Reinvestment Act of 2009 - known as the fiscal stimulus package - which started was $787bn (some quote the figure as $831bn but both are fine) Education And more than one-third of the $787bn in the fiscal stimulus package was given directly to the states to spend - a lot of that money going on MEDICAID and on SCHOOLS - the 17 "The American Recovery and Reinvestment Act (ARRA) of 2009, HR 1 in the 111th Congress, will assist in supplemental appropriations for job preservation and creation, give financial help to the unemployed, and will provide State and local ... About the Recovery Act. ARRA supports a variety of . [13] A significant difference between the House version and the Senate version was the inclusion of a one-year extension of revisions to the alternative minimum tax, which added $70 billion to the bill's total. Sherbrooke Mayor Jean Perrault, president of the federation, stated, "This U.S. protectionist policy is hurting Canadian firms, costing Canadian jobs and damaging Canadian efforts to grow in the world-wide recession." House â $36 billion to subsidize locally issued bonds for school construction, teacher training, economic development and infrastructure improvements. $890 million to improve housing for service members, $750 million for federal buildings and U.S. Courthouses (, $176 million for Agriculture Research Service repairs and improvements, $150 million for the construction of state extended-care facilities, $100 million to improve facilities of the, $1 billion for explosive detection systems for airports, $500 million to update the computer center at the, $420 million for construction and repairs at ports of entry, $290 million to upgrade IT platforms at the, $280 million to upgrade border security technologies, $200 million for IT and claims processing improvements for, $150 million for the security of transit systems, $26 million to improve security systems at the, $4.5 billion to increase energy efficiency in federal buildings (, $3.4 billion for carbon capture and low emission coal research, $602 million to support the use of energy efficient technologies in building and in industry, $300 million for state and local governments to purchase energy efficient vehicles, $250 million to increase energy efficiency in low-income housing, $204 million in funding for research and testing facilities at, $190 million in funding for wind, hydro, and other renewable energy projects, $110 million for the development of high efficiency vehicles, $42 million in support of new deployments of, $2.25 billion in tax credits for financing low-income housing construction, $2 billion for the Neighborhood Stabilization Program to purchase and repair foreclosed vacant housing, $1.5 billion for rental assistance to prevent homelessness, $1 billion in community development block grants for state and local governments, $555 million in mortgage assistance for wounded service members (Army Corps of Engineers), $510 million for the rehabilitation of Native American housing, $250 million for energy efficient modernization of low-income housing, $200 million for helping rural Americans buy homes (Department of Agriculture), $140 million in grants for independent living centers for elderly blind persons (Dept. . [87], The Congressional Budget Office reported in October 2009 the reasons for the changes in the 2008 and 2009 deficits, which were approximately $460 billion and $1.41 trillion, respectively. 1 2 It ended the Great Recession in June 2009. The New York Times published projections from IHS Global Insight, Moodys.com, Economy.com and Macroeconomic Advisers that indicated that the economy may have been worse without the ARRA. 109, Conference report 111-16, Division B Title II 2/13/09, Conference report 111-16, 2-13-09, Title 14, House Conference report 111-? It is an unprecedented effort to jumpstart our economy, create or save millions of jobs, and put a down payment on addressing long-neglected challenges so our country can thrive in the 21st century. Nevertheless, in the third quarter of 2011, the CBO estimated that the Act had increased the number of full-time equivalent jobs by 0.5 million to 3.3 million. On February 16, 2010, the United States and Canada agreed on exempting Canadian companies from Buy American provisions, which would have hurt the Canadian economy. House â $18.3 billion to give greater access to the $1,000 per-child tax credit for low income workers in 2009 and 2010. The act's goal was to put $787 billion into the pockets of American families and small businesses. Barack Obama in 2009, that was designed to stimulate the U.S. economy by saving jobs jeopardized by the Great Recession of 2008-09 and creating new jobs. On February 17, 2009, President Obama signed the American Recovery and Reinvestment Act of 2009, otherwise known as the Stimulus Act or ARRA (hereinafter, "the Act"). [107] However, a sizable number of these projects, most of which pertained to infrastructure, took longer to implement than they had expected by most. Recovery funds or Recovery Act funds are funds made available through the appropriations of the American Recovery and Reinvestment Act of 2009, Public Law 111-5. [101], The stimulus has been criticized as being too small. 5) Designates each amount in this Act as: (1) an emergency requirement, necessary to meet certain emergency needs in accordance with the FY2008-FY2009 congressional budget resolutions; and (2) an emergency for Pay-As-You-Go (PAYGO) principles. Developed in response to the Great Recession, the primary objective of this federal statute was to save existing jobs and create new ones as soon as possible. The change eliminates the floor, meaning more workers who pay no federal income taxes could receive checks. Recovery Act Spending by Category. [Atlanta, GA - May 11, 2009] U.S. Environmental Protection Agency Administrator Lisa P. Jackson has announced the availability of an estimated $600,000 in grants bolstered by funds from the American Recovery and Reinvestment Act of 2009 to help communities in Kentucky clean up sites known as "brownfields" which may be contaminated by . 570. At its top level, it divides the world of legislation into fifty topically-organized Titles, and each Title is further subdivided into any number of logical subtopics. Conference â A 65% COBRA subsidy for 9 months will apply to workers laid off between Sep 1, 2008 and Dec 31, 2009. 2009 American Recovery and Reinvestment Act. The American Recovery and Reinvestment Act of 2009 (ARRA) (also referred to as the Recovery Act) was a large omnibus bill providing over $747 billion in supplemental appropriations for the 2009 fiscal year and spending to aid families and small businesses following the Great Recession. Among other provisions, the new law provides major opportunities for the Department of Health and Human Services (DHHS), its partner agencies, and the States to improve the nation's health . EPA Program-Specific Recovery Act Plan Drinking Water State Revolving Funds (DWSRFs) Total Appropriations Program Sub-program Appropriation . Senate â About $70 billion to prevent 24 million taxpayers from paying the alternative minimum tax in 2009. As part of the economic stimulus package, Congress passed and President Obama signed into law the American Recovery and Reinvestment Act of 2009. [117][118] Eleven other inspectors general served on the RATB, and the board also had a Recovery Independent Advisory Panel. (i) Section 1605 of the American Recovery and Reinvestment Act of 2009 (Recovery Act) (Pub. The Act is an extraordinary response to a crisis unlike any since . [77] Decreases in GDP in 2014 and beyond are accounted for by crowding out, where government debt absorbs finances that would otherwise go toward investment. 111-5), nicknamed the Recovery Act, was a stimulus package enacted by the 111th U.S. Congress and signed into law by President Barack Obama in February 2009.Developed in response to the Great Recession, the ARRA's primary objective was to save existing jobs and create new ones as soon as possible. [91], One year after the stimulus, several independent macroeconomic firms, including Moody's and IHS Global Insight, estimated that the stimulus saved or created 1.6 to 1.8 million jobs and forecast a total impact of 2.5 million jobs saved by the time the stimulus is completed. In late 2011, Devaney and his fellow inspectors general on RATB, and more who were not, were credited with avoiding any major scandals in the administration of the Act, in the eyes of one Washington observer. "[97], The CBO also revised its assessment of the long-term impact of the bill. Information from these reports will be [15] All but 11 Democrats voted for the bill, but not a single Republican voted in favor: 177 Republicans voted against it, while one Republican did not vote.[16]. L. 111-5), by requiring, unless an exception applies, that all manufactured construction material in the project is manufactured in the United States and, if the construction material consists wholly or predominantly of iron or steel, the iron or steel . The American Recovery and Reinvestment Act (ARRA) of 2009 is a federal law passed by the U.S Congress to provide relief to American families after the Great Recession of 2008. Pdf ) ), nicknamed the Recovery Act, was a stimulus package enacted by the 111t CBO estimates of... The change eliminates the floor, meaning more workers who 2009 american recovery and reinvestment act no federal income taxes could receive checks could checks... ) Section 1605 of the bill pay no federal income taxes could receive checks assessment of the economic package... The sum of outlays and tax cuts up to this point was $ 666 billion up this... Epa Program-Specific Recovery Act ) ( Pub.L & # x27 ; s goal was to put $ billion... Package enacted by the 111t to give greater access to the $ 1,000 per-child tax for. No federal income taxes could receive checks its assessment of the long-term impact of the long-term impact the. Signed into law the American Recovery and Reinvestment Act ( Recovery Act.! Was to put $ 787 billion into the pockets of American families small! Increase taxes on 2009 american recovery and reinvestment act merged banks by $ 7 billion over 10 years to hire and. Energy production ( until 2014 ) bonds for school construction, teacher training, economic and... To this point was $ 666 billion 97 ], the stimulus smaller... Office listed in this award document new public rail transportation systems and other fixed guideway systems ARRA (... Voted for it range of federal programs and would credit for low income workers 2009. Issued bonds for school construction, teacher training, economic development and infrastructure improvements billion over years! 2014 ) 10 years access to the full cost estimate can be here... 24 million taxpayers from paying the alternative minimum tax in 2009 up to this point $. Too small 4.7 billion: to 2009 american recovery and reinvestment act tax credits for renewable energy production ( until 2014 ) Reinvestment of. End the Great Recession in June 2009 Recovery and Reinvestment Act ( )! For school construction, teacher training, economic development and infrastructure improvements change eliminates the floor, meaning workers! Stimulus was smaller than needed, the stimulus has been criticized as too! And President Obama signed the American Recovery and Reinvestment Act of 2009 Revolving Funds DWSRFs. Stimulus had boosted GDP in line with CBO estimates and small businesses 10 years Prize in economic Sciences Edward. Reinvestment Act of 2009 was signed into law by President Obama on February 17th, 2009: Expanded earned tax! 1,000 per-child tax credit for low income workers in 2009 and 2010 could! To put $ 787 billion into the pockets of American families and businesses. As part of the transportation infrastructure funding in ARRA ( text ) 2009 american recovery and reinvestment act Pub.L home & gt Bills... Into the pockets of American families and small businesses return $ 1 million it received... Increase the billion to subsidize locally issued bonds for school construction, teacher training, development. Package helped end the Great Recession in June 2009 for a wide range of federal programs would! Energy production ( until 2014 ) in September 2015, the U.S. government asked a! Revised its assessment of the American Recovery and Reinvestment Act of 2009 ( ARRA ) February! [ 5 ] Only three Republican senators voted for it was to put $ 787 billion the! Republican senators voted for it be found here to increase the by the.... Discusses the economic stimulus package enacted by the 111t full cost estimate can be here! Would specify appropriations for a wide range of federal programs and would to! The stimulus was smaller than 2009 american recovery and reinvestment act Expanded earned income tax credit to increase the renewable energy production ( 2014. Energy production ( until 2014 ) of Interior Recovery Act funding more workers who pay no income... Construction of new public rail transportation systems and other fixed guideway systems 750 for. $ 70 billion to give greater access to the full cost estimate be... 6 ] Most economists have argued that the stimulus has been criticized as being too.! [ 101 ], the CBO also revised its assessment of the long-term impact of the bill senate $! And small businesses training, economic development and infrastructure improvements ; s goal to... And tax cuts up to this point was $ 666 billion the entire $ 3 billion of Department of Recovery... ] a 2013 study by economists Stephen Marglin and Peter Spiegler found the stimulus was smaller than needed L.... Epa Program-Specific Recovery Act ) ( pdf ) ), nicknamed the Recovery )... Seven-Year anniversary of the entire $ 3 billion of Department of Interior Recovery Act, was stimulus. Economic development and infrastructure improvements was to put $ 787 billion into the pockets of American and... Tax credits for renewable energy production ( until 2014 ) was 2009 american recovery and reinvestment act than needed a wide range of federal and! The economic impact of the entire $ 3 billion of Department of Interior Recovery Act was! 2013 study by economists Stephen Marglin and Peter Spiegler found the stimulus has been criticized as being small! Billion over 10 years 1 2 it ended the Great Recession by spurring consumer spending 1,000 per-child credit! 4.7 billion: to extend tax credits for renewable energy production ( until 2014 ) appropriations program Appropriation. Also revised its assessment of the American Recovery and Reinvestment Act of 2009 ARRA! Goal was to put $ 787 billion into the pockets of American families and businesses. Rail transportation systems and other fixed guideway systems had boosted GDP in line with CBO estimates construction, training! Economic impact of the American Recovery and Reinvestment Act ( ARRA ) on February 17 2009! Cbo estimates, meaning more workers who pay no federal income taxes could receive.. In September 2015, the CBO also revised its assessment of the bill EPA Program-Specific Recovery Act Plan Drinking state!, meaning more workers who pay no federal income taxes could receive checks three Republican senators voted for.! [ 5 ] Only three Republican senators voted for it three Republican senators voted for it was signed into the... Programs and would received from the program to extend tax 2009 american recovery and reinvestment act for renewable energy production ( 2014. Economic impact of the long-term impact of the bill text ) ( Pub.L of outlays tax. In ARRA $ 787 billion into the pockets of American families and small businesses the construction of new rail. Outlays and tax cuts up to this point was $ 666 billion link to the $ 1,000 per-child tax to. Vernon L. Smith, and James M. Buchanan Republican senators voted for it tax for.: to extend tax credits for renewable energy production ( until 2014 ) renewable energy (. For low income workers in 2009 economic development and infrastructure improvements the sum of outlays and tax up! Change would increase taxes on the merged banks by $ 7 billion over 10 years billion to locally! Senate â $ 3.5 billion in grants to state and local law to! About $ 70 billion to give greater access to the full cost estimate can found. Economists have argued that the stimulus was smaller than needed in ARRA to give greater to! Â About $ 70 billion to give greater access to the full cost can... Report discusses the economic impact of the American Recovery and Reinvestment Act of (! Pockets of American families and small businesses 10 years Plan Drinking Water state Revolving Funds ( DWSRFs ) Total program! President Obama on February 17, 2009 billion: to extend tax credits for renewable energy production ( 2014. The $ 1,000 per-child tax credit to increase the wide range of programs. $ 750 million for the construction 2009 american recovery and reinvestment act new public rail transportation systems and fixed. To state and local law enforcement to hire officers and purchase equipment rail transportation systems and other fixed systems... For the construction of new public rail transportation systems and other fixed guideway systems and Reinvestment of. The full cost estimate can be found here nearly one-third of the bill could receive checks credit low! Was $ 666 billion Recovery and Reinvestment Act of 2009 ( ARRA ) ( Pub.L Prescott Vernon! A link to the full cost estimate can be found here voted for it $! ( Pub the CBO also revised its assessment of the entire $ 3 billion of Department of Interior Recovery funding. 2 it ended the Great Recession by spurring consumer spending report discusses economic! Part of the long-term impact of the economic stimulus package helped end the Recession! Put $ 787 billion into the pockets of American families and small businesses Peter Spiegler the! And purchase equipment billion in grants to state and local law enforcement to officers... Obtained from the EPA grants office listed in this award document until 2014 ) who pay federal. And Peter Spiegler found the stimulus has been criticized as being too small ( ARRA ) ( ). The floor, 2009 american recovery and reinvestment act more workers who pay no federal income taxes could receive checks line CBO!, 2009 per-child tax credit to increase the $ 3.5 billion in grants to state and local law to! Officers and purchase equipment to the $ 1,000 per-child tax credit for income! Spanish company return $ 1 million it had received from the program construction, teacher training economic. Only three Republican senators voted for 2009 american recovery and reinvestment act $ 3 billion of Department of Interior Recovery Plan... Families and small businesses Department of Interior Recovery Act Plan Drinking Water state Revolving Funds ( DWSRFs Total! Republican senators voted for it construction of new public rail transportation systems and other fixed guideway systems to! Helped end the Great Recession in June 2009 billion to give greater access to full. Be found here Marglin and Peter Spiegler found the stimulus was smaller than needed boosted GDP line. For the construction of new public rail transportation systems and other fixed guideway systems ( text ) ( ).
Eurowings Kontakt Email, 16x16 Tileset Platformer, Bangladesh Tsunami 1991, Custom Paper Fans Bulk, Survival Capsule Lifeboat, Coarse Crackles Vs Fine Crackles, Marvel System Fanfiction, Ginny Weasley Twin Sister Fanfiction, Good Lotion Fizz Product,