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Lawmakers crafted it in response to the great recession which erupted in the fall of 2008.
Stimulus bill recovery act. For example a second stimulus check would provide a fraction of. 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 american recovery and reinvestment act of 2009 was a fiscal stimulus signed by president barack obama on february 17 2009.
However the new stimulus bill comes in at less than half of the budget reducing many of the benefits of the original cares act. 1 2 the congressional budget office estimated it would add 787 billion in budget deficits by 2019. Congress and signed into law by obama in february 2009 just weeks into his first term.
Congress and signed into law by president donald trump on march 27 2020 in response to the economic fallout of the covid 19 pandemic in the united states. 30 2022 to help the department of education prevent prepare for and respond to the coronavirus. Economic stimulus act 2008.
The bill would provide more than 54 billion for k 12 public schools directly. The act s goal was to put 787 billion into the pockets of american families and small businesses. The coronavirus aid relief and economic security act also known as the cares act is a 2 2 trillion economic stimulus bill passed by the 116th u s.
President barack obama signed the american recovery and reinvestment act arra on february 17 2009. Prior to the recovery act the george w. Known as the american recovery and reinvestment act of 2009 and nicknamed the recovery act the stimulus package was enacted by the 111th u s.
The consolidated appropriations act of 2021 allocates 82 billion for colleges and k 12 schools which will remain available through sept. It ended the great recession in june 2009. The american recovery and reinvestment act of 2009 arra pub l.
H R 1 111th American Recovery And Reinvestment Act Of 2009 Govtrack Us
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