The American Recovery and Reinvestment Act of 2009

On February 13, Congress passed the American Recovery and Reinvestment Act to save and create jobs, get the economy moving again, and transform it for long-term growth and stability. On February 17, President Obama signed the bill into law. According to the House-Senate conference agreement, the Act will:

  • Create and save 3.5 million jobs.
  • Make us more globally competitive and energy independent.
  • Give 95 percent of American workers an immediate tax cut.
  • Invest in roads, bridges, mass transit, energy efficient buildings, flood control, clean water projects, and other infrastructure projects.
  • Restore science and innovation as the keys to new American-made technology, preventing and treating disease, and tackling urgent national challenges like climate change and dependence on foreign oil.
  • Invest quickly into the economy.

According to the nonpartisan Congressional Budget Office, this recovery package will be fast-acting, with 64 percent of the package invested by the end of fiscal year 2010. Here is a summary of ten of the key changes.

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Posted: July 1, 2009
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