Federal Recovery Act Overview

On February 17, 2009 President Obama signed the American Recovery and Reinvestment Act (ARRA), a $787 billion plan to create jobs, get the economy going again and make significant improvements to the nation’s infrastructure. The ARRA provides federal funding for a wide range of federal, state and local programs as well as tax relief for qualified businesses and individuals. To ensure that its massive spending authorization is used effectively and for its intended purposes, the ARRA lays out distinct goals that it seeks to accomplish:

1. To preserve and create jobs and promote economic recovery.
2. To assist those most impacted by the recession.
3. To provide investments needed to increase economic efficiency by spurring technological advances in science and health.
4. To invest in transportation, environmental protection, and other infrastructure that will provide long-term economic benefits.
5. To stabilize State and local government budgets, in order to minimize and avoid reductions in essential services and counterproductive state and local tax increases.

To view the full American Recovery and Reinvestment Act (ARRA) of 2009 bill, click here.