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The impact of American recovery and reinvestment act of 2009 in the Latino Community. (1) Unemployment: Changes in unemployment during the recession reveal a rapidly worsening situation for foreign-born Hispanics and native-born Hispanics. The unemployment rates for these groups increased by similar amounts from the fourth quarter of 2007 to the fourth quarter of 2008. However, the number of unemployed persons increased at a much faster rate for foreign-born Hispanics. The unemployment rate for foreign-born Hispanic increased from 5.1% to 8.0%. The 2.9 percentage point rise was greater than the 2.0 percentage point increase in the overall economy as the unemployment rate for all persons rose from 4.6% to 6.6%. The unemployment rate for…show more content…
Building off the Recovery Act, the tax agreement extended key provisions including the Earned Income Tax Credit ( EITC) and the Child Tax Credit ( CTC) that directly benefit an estimated 3.7 million Hispanic families, including 8 million Hispanic children. The president also signed into law 18 direct tax break to bolster small business growth. Also, Cut taxes by $400 for individuals and $800 for families through reduction of withholding. That confused many people who expected checks like the Bush Tax Cuts. A payment of an additional $250 each to recipients of Social Security, veterans pension and Supplemental Security Income (SSI) benefits. $70 billion to extend the Alternative Minimum Tax shelter. Congress extends it each year. A $2,500 college tuition tax credit for 2009 and 2010. An $8,000 tax credit for first-time homebuyers in 2009 only. ( It was later extended through April 2010.) A deduction of sales tax on new car purchases through 2009 only. Unemployment benefits were extended for another 33 weeks. A suspension of taxes on the first $2,400 of unemployment benefits through 2009. Taking Action to Strengthen the Recovery: The president fought to continue the payroll tax cut into 2012, ensuring that taxes do not go up on nearly 25 million Hispanic workers, and to extend unemployment insurance so that Americans looking for

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