Stimulus act 2009 pdf

Act is intended to do more than provide shortterm stimulus. The 2009 recovery act focused on four major categories of energyrelated investments pdf. What green new deal advocates can learn from the 2009 economic. American recovery and reinvestment act 2009 the american recovery and reinvestment act of 2009 sometimes called the recovery act or the stimulus established a framework for reporting on the use of funding that was awarded as part of the federal stimulus package. Opportunities and risks february 2009 executive summary not since world war ii has the federal government sought to spend so much money in so little time, with such a sense of urgency. B notwithstanding subparagraph a, the secretary of agriculture may not reduce the value of the. The american recovery and reinvestment act of 2009, otherwise known as the stimulus bill, was one of the first major pieces of legislation passed by the new democratic congress in 2009 and signed by newly inaugurated president barack obama. Taylor testimony before the committee on oversight and government reform subcommittee on regulatory affairs, stimulus oversight and government spending u. What were the pros and cons of the plan, and did it work.

Joint committee on taxation, description of the economic stimulus act of 2008 jcx808, january 28, 2008. This is the white house site for the 2009 stimulus act. Federal highway administration website on federal stimulus. Recognizing the effectiveness of the supplemental nutrition assistance program snap, formerly food stamps at providing economic stimulus and reducing hardship in a weak economy, policymakers included several snap provisions in the 2009 recovery act, most notably a benefit increase for all participants.

Authorize fema to administer nontraditional community disaster loans for areas dependent on dislocated industries. Department of housing and urban development on federal stimulus. American recovery and reinvestment act of 2009 2009. Is the american recovery and reinvestment act of 2009 working. It is reported that more than 50 major tax provisions have been rolled into the 2009 act. The closest analog to this effort occurred in 2009, when president barack obama and congress worked together to combat a severe economic recession by passing a massive economic stimulus plan. The stimulus act of 2009 virginia government finance. Download the full report as a printable pdf executive summary as part of the unprecedented accountability and transparency provisions included in the american recovery and reinvestment act of 2009 arra, the council of economic advisers was charged with providing to congress quarterly reports on the effects of the recovery act on overall econ. The american recovery and reinvestment act of 2009 sometimes called the recovery act or. The net government stimulus from the arra for 2009 and 2010 is show in figure 2. Taking state and local budget shortfalls into account, the stimulus package for this period is further reduced. Oct 12, 2009 the stimulus act amends the statewide nonresidential fee act the fee act, which was enacted by the legislature in july 2008 and usurped municipalities authority to impose fees on nonresidential development to fund affordable housing in favor of a statewide development fee of 2.

Stimulus payments for seniors and persons with disabilities. The economic recovery and middleclass tax relief act of 2009 hr 470 is a bill introduced to the united states house of representatives during the 111th congress on january, 2009. Feb 17, 2020 exactly 11 years ago today, february 17, 2009, president obama signed the american recovery and reinvestment act of 2009 or the recovery act into law. Following are six major tax provisions that should be of general interest. The american recovery and reinvestment act of 2009 arra pub. Obamas 2009 recovery act kicked off over 10 years of. Earlier research on the discretionary countercyclical economic stimulus act of 2008. The 2008 and 2009 tax acts provided large temporary tax cuts to most households, with the goal of helping the economy recover from the great recession. The american recovery and reinvestment act of 2009 better known as the stimulus act leaves no business, no american untouched. At the time of the act s passage last february, this question was hotly debated.

Brief summary congressional research service 1 resident barack obama signed h. Exactly 11 years ago today, february 17, 2009, president obama signed the american recovery and reinvestment act of 2009 or the recovery act. The 2010 tax act extended specific provisions of the 2009 act through 2012, along with most of the 2001 and 2003 income tax cuts. Congress and signed into law by president barack obama in february 2009. Aug 27, 2015 tax provisions this table displays the estimated effects of the making work pay tax credit provision of the american recovery and reinvestment act of 2009 arra and the payroll tax holiday provision of the tax relief, unemployment insurance reauthorization, and job creation act of 2010 on selected nipa components of personal income and federal receipts and expenditures. Signed into law on february 17, 2009, by president barack obama, the american recovery and reinvestment act arra was established to address the current economic crisis facing the united states. Oct 05, 2010 job preservationcreation is a measure required by bja for byrnejag grants received under the stimulus funding act. Brief summary congressional research service summary president barack obama signed h. Implementing the american recovery and reinvestment act of 2009 recovery act the u. For instance, the arra also boosted foodstamp benefits, expanded the earned income tax. Economic impact of the recovery act of 2009 jan 2010 pdf 284 kb. The total size of the american recovery and reinvestment act of 2009 arra was. The act provides qualifying taxpayers an advance tax credit for the 2008 tax year called a recovery rebate. Stimulus at the extensive and intensive labor margins bill duporyand m.

It has information and links to many of the programs, projects and funding possibilities that are arising from the stimulus act. Snap benefit boost in 2009 recovery act provided economic. I hope you found the summary of the 2009 economic stimulus act to be helpful. Specifically, the law implements several recommendations which were deleted from pending. The economic impact of the american recovery and reinvestment. The american recovery and reinvestment act of 2009.

The american recovery and reinvestment act of 2009 the recovery act or the act. President obama signed into law the american recovery and reinvestment act of 20091 the stimulus bill on february 17, 2009. Job preservationcreation is one measure of economic stimulus. Act arra, recovery act, or stimulus into law on february 17, 2009, just five. The house and senate on february 7, 2008 passed the economic stimulus act of 2008.

What green new deal advocates can learn from the 2009. Pdf was the american recovery and reinvestment act an. Stimulus act 2009 pdf this act may be cited as the american recovery and reinvest ment act of 2009. The new economic stimulus plan titled the american recovery and reinvestment act of 2009 the 2009 act contains numerous tax provisions. The stimulus act of 2009 and its effect on foodathome spending by snap participants by charlotte tuttle lowincome snap households spend more on food out of an increase in benefits than cash. All applicable provisions in this act are designated. Act of 2009 commonly referred to as the stimulus or the stimulus package. Developed in response to the great recession, the arras primary objective was to save existing jobs and create new ones as soon as possible. Page 1 of 9 american recovery and reinvestment act of 2009 public law 1115 h. Transparency and accountability under the 2009 stimulus. Nj economic stimulus act of 2009 provides capital to spur.

Uc is not the only benefit which has been broadened or temporarily increased under the american recovery and reinvestment act. My empirical research during the past two years shows that arra did not have a significant impact in stimulating the economy. Economic recovery and middleclass tax relief act of 2009. Recovery rebates and incentives for business investment sec. The following article, which appeared in the march 2009. American recovery and reinvestment act 2009 project description. Directs the secretary to publish the median house prices and mortgage principal obligation limits as revised by this act not later than 30 days after its enactment. House of representatives february 16, 2011 chairman jordon, ranking member kucinich, and other members of the committee. On february 26, 2009, president obama released his proposed budget the budget, which generally outlines the presidents budget goals over the next ten years. Energyrelated incentives the stimulus act includes a wide range of renewable energy and. Jul 05, 2011 how effective was the 2009 stimulus program. President obama signed into law the american recovery and reinvestment. Structures strategies and opportunitiesstructures, strategies and opportunities virginia local government finance officers association sppgring conference christopher g. Other objectives were to provide temporary relief programs for those most affected by the recession and invest in infrastructure, education.

The american recovery and reinvestment act of 2009 the recovery act or the act presents tremendous opportunities for companies. Federal emergency management agency on federal stimulus. American recovery and reinvestment act of 2009 public law. The stimulus act also amends the urban transit hub tax credit act uthtca, which was enacted by the legislature in january 2008 to foster economic development in urban centers by providing tax credits to businesses that make capital investments in, and increase employment around, targeted urban rail transit hubs. 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. Wilson this paper estimates the jobs multiplier of fiscal stimulus spending using the statelevel allocations of federal stimulus funds from the american recovery and reinvestment act arra of 2009. Evidence from the 2009 american recovery and reinvestment act by daniel j. The recovery act was one of the first pieces of legislation passed during the presidency of barack obama. The american recovery and reinvestment act of 2009 recovery act was signed into law by president obama on february 17th, 2009. It is an unprecedented effort to jumpstart our economy, create or save millions of jobs, and put a down payment on addressing longneglected challenges so our country can thrive in the 21st century.

How much of the spending in the stimulus bill is actually stimulative. Federal transit administration website on federal stimulus. The act was signed by president bush on february, 2008. What is actually required is that the application presents how the proposed project will stimulate the economy. American recovery and reinvestment act of 2009 national. The governor created the california federal economic stimulus task.

Cato institute petition against obama 2009 stimulus plan pdf. Iinterest on all taxexempt obligations, whether directly subject to amt or not, is taken into account as current earnings for purposes of corporate amt. So the stimulus the socalled american recovery and reinvestment act of 2009 or arra is starting to wind down. American recovery and government publishing office. The actual language of the american recovery and reinvestment act of 2009. Usda ers the stimulus act of 2009 and its effect on food. Emergency designation designates all provisions of this act as emergency requirements and necessary to meet emergency needs for certain budgetary purposes. Read the full text of the recovery act pdf version. The economic stimulus act of 2008 summary and explanation l economic stimulus rebate checks l temporary increases in expensing of depreciable assets l special depreciation allowance for certain property the house and senate on february 7, 2008 passed the economic stimulus act of 2008. New jersey economic stimulus act of 2009 a4048s2299scs.

This document,1 prepared by the staff of the joint committee on taxation, provides a description of the economic stimulus act of 2008. The project will replace the superstructure and modify the substructure of the bridge carrying hales rd. The 2009 stimulus two years later hoover institution. Reinvestment act arra of 2009, enacted two years ago this week. The stimulus act of 2009 and its effect on foodathome spending by snap participants.

Title transparency and accountability under the 2009 stimulus act, executive counsel julyaugust 2009 author. American recovery and reinvestment act of 2009 alaska. Covid19 stimulus proposals united states joint economic. The bill was sponsored by representative scott garrett of new jersey along with 80 cosponsors. American recovery and reinvestment act of 2009 stimulus. The american recovery and reinvestment act of 2009 state. American recovery and reinvestment act of 2009 alaska railroad implementation plan. Mar 23, 2020 the american recovery and reinvestment act of 2009 arra pub. Iinterest on all new money taxexempt obligations governmental and private activity bonds issued in 2009 and 2010 is exempt from amt. American recovery and reinvestment act of 2009 wikipedia. American recovery and reinvestment act of 2009 public law 111. A the authority provided by this subsection shall terminate after september 30, 2009. President george bush launched an economic stimulus package in 2008 to head off a recession. Usda ers the stimulus act of 2009 and its effect on foodat.

The act provides several kinds of stimulus intended to boost the us economy in 2008 and to avoid or lessen an economic recession. The american recovery and reinvestment act of 2009, nicknamed the recovery act, was a stimulus package enacted by the 111th u. B notwithstanding subparagraph a, the secretary of agriculture may not reduce the value of the maximum allotments, minimum allotments or consolidated block grants for puerto rico. Saif mehkariz january 15, 2016 abstract this paper studies the e ect of government stimulus spending on a novel aspect of the labor. Not since world war ii has the federal government sought to spend so much money in so little time, with such a sense of urgency.