American Recovery and reinvestment act of 2009
What is the Recovery Act?
On February 17, 2009 the American Recovery Act was signed into legislation by President Obama. The act is aiming to create and save jobs, spur economic activity and invest in long-term economic growth and foster extraordinary levels of accountability and transparency in government spending.
How much money was designated to the ARRA?
$787 billion were assigned to this Act.
What are some of the goals of the Recovery Act ?
- Cutting taxes for nearly 129 million working households by providing an $800 Making Work Pay tax credit
- Weatherizing 75% of federal buildings and more than one million homes
- Expanding the Child Tax Credit
- Initiating a process to computerize health records to reduce medical errors and save on health care costs
- Investing in the domestic renewable energy industry
- Increasing college affordability for seven million students by funding the shortfall in Pell Grants, raising the maximum grant level by $500, an providing a higher education tax cut to nearly four million students.
Where is all the money going? (From recovery.gov)
- States:
- California
- New York
- Texas
- Florida
- Illinois
- Pennsylvania
- Michigan
- Ohio
- New Jersey
- Georgia
- Agencies who have paid out the most money:
- Department of Health and Human Services
- Department of Labor
- Department of Education
- Social Security Administration
- Department of Agriculture
- Department of Transportation
- Department of Housing and Urban Development
- Department of the Treasury
- Department of Justice
- Department of Energy
Useful Links:
www.whitehouse.gov/omb/recovery_default/
Updated daily: www.fpds.gov
Recovery related jobs: http://www.recovery.gov/Opportunities/Pages/Jobs.aspx
Recovery related contracts up for bid: http://www.recovery.gov/Opportunities/Pages/Federal_Contracts.aspx#
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