Accession Number : ADA615710
Title : Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output in 2014
Descriptive Note : Congressional rept.
Corporate Author : CONGRESSIONAL BUDGET OFFICE (U S CONGRESS) WASHINGTON DC
Report Date : Feb 2015
Pagination or Media Count : 11
Abstract : In February 2009, in response to significant weakness in the economy, lawmakers enacted the American Recovery and Reinvestment Act (ARRA). The legislation s numerous spending and revenue provisions can be grouped into several categories according to their focus: Providing funds to states and localities for example, by raising federal matching rates under Medicaid, providing aid for education, and increasing financial support for some transportation projects; Supporting people in need such as by extending and expanding unemployment benefits and increasing benefits under the Supplemental Nutrition Assistance Program (formerly the Food Stamp program); Purchasing goods and services for instance, by funding construction and other investment activities that could take several years to complete; and Providing temporary tax relief for individuals and businesses such as by raising exemption amounts for the alternative minimum tax, adding a new Making Work Pay tax credit, and creating enhanced deductions for depreciation of business equipment.
Descriptors : *BENEFITS , *ECONOMICS , *EMPLOYMENT , *FEDERAL BUDGETS , EDUCATION , ESTIMATES , IMPACT , INVESTMENTS , MATCHING , NUTRITION , PROCUREMENT , RATES , RECOVERY , RESPONSE , REVENUE SHARING , SALARIES , TAXES , TRANSPORTATION , UNITED STATES GOVERNMENT
Subject Categories : Economics and Cost Analysis
Distribution Statement : APPROVED FOR PUBLIC RELEASE