The American Recovery And Reinvestment Act

1606 WordsOct 31, 20167 Pages
People believe the American Recovery and Reinvestment Act or ARRA had a centralizing effect, yet there are motives that support, as well as some that oppose the act. The act is sometimes referred to as The Stimulus or The Recovery Act. The United States Congress in February of 2009 passed this Act and it was signed in the same month, by President Barack Obama. The main goal for the Act consisted of maintaining and building jobs right away. The next goal was to offer momentary release plans for those who are the most affected by the depression and invest in organization, schooling, and health. The expected price of the Act was around $780 billion. It was adjusted to around $830 billion, between the time of 2009 and 2019. Within the act, it incorporated spending in organization, schooling, and health. “States were rescued from this crisis by the American Recovery and Reinvestment Act (ARRA), a package passed by Congress that was designed to stimulate the economy with targeted tax cuts, job creation and government investments” (Smith & Greenblatt, 2016, p. 90). The leading aim was for a sense of motivation in the time of the economic decline and help the U.S. economy. While involving the tax release and expanding on employment, it also served many purposed that are non-economic. This included matters that were directed towards more long term plans. The Economic Stimulus Act of 2008 involved refunds of taxes, yet the government had more action that was significantly bigger. The
Open Document