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The American Rescue Plan Act of 2021, also called the COVID-19 Stimulus Package or American Rescue Plan, is a US$1.9 trillion economic stimulus bill passed by the 117th United States Congress and signed into law by President Joe Biden on March 11, 2021, to speed up the country's recovery from the economic and health effects of the COVID-19 pandemic and recession. [1]
The approximate cost of the economic stimulus package was estimated to be $787 billion at the time of passage, later revised to $831 billion between 2009 and 2019. [1] The ARRA's rationale was based on the Keynesian economic theory that, during recessions, the government should offset the decrease in private spending with an increase in public ...
In June 2009, dissatisfied with the pace of economic stimulus, Obama called on his cabinet to accelerate the investment. [45] By late 2013, the Federal Government had disposed of (re-privatized) all of its investments in Chrysler and GM. As of late 2016, taxpayers had recovered $71 billion of the $80 billion invested in the automobile industry. [2]
The Coronavirus Aid, Relief, and Economic Security Act, [b] [1] also known as the CARES Act, [2] is a $2.2 trillion economic stimulus bill passed by the 116th U.S. 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.
The Emergency Economic Stabilization Act of 2008, also known as the "bank bailout of 2008" or the "Wall Street bailout", was a United States federal law enacted during the Great Recession, which created federal programs to "bail out" failing financial institutions and banks.
Economic growth in 2013 will be slower due to deficit reduction in the short-run. Compared against the CBO's "Baseline Scenario" (which assumes significant deficit reduction due to the expiration of the Bush tax cuts at all income levels, expiration of payroll tax cuts and implementation of spending cuts), ATRA raises the deficit considerably ...
The Economic Stimulus Act of 2008 (Pub. L. Tooltip Public Law (United States) 110–185 (text), 122 Stat. 613, enacted February 13, 2008) was an Act of Congress providing for several kinds of economic stimuli intended to boost the United States economy in 2008 and to avert a recession, or ameliorate economic conditions. The stimulus package was ...
February 13, 2009: Congress approved the American Recovery and Reinvestment Act of 2009, a $787 billion economic stimulus package. President Barack Obama signed it February 17. [184] [13] [185] [186] February 20, 2009: The DJIA closed at a 6-year low amidst worries that the largest banks in the United States would have to be nationalized. [187]