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“Immediately upon taking office, the President and the Administration worked with Congress to enact the American Recovery and Reinvestment Act, a package of targeted investments and tax cuts designed to get Americans back to work and get the economy growing again. Along with each agency of government, the Department of Treasury is working everyday to implement the president’s plan quickly to reignite economic growth – with an unprecedented amount of accountability and transparency."
-- Treasury Secretary Tim Geithner
was signed into law by President Obama on February 17th, 2009. It is an unprecedented effort to jumpstart our economy, create or save millions of jobs, and put a down payment on addressing long-neglected challenges so our country can thrive in the 21st century. The Act is an extraordinary response to a crisis unlike any since the Great Depression, and includes measures to modernize our nation's infrastructure, enhance energy independence, expand educational opportunities, preserve and improve affordable health care, provide tax relief, and protect those in greatest need.
Implementing the Recovery Act:
Treasury's Role
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The Department of the Treasury has significant responsibilities related to the Recovery Act. Treasury has nine programs – including several initiatives involving tax changes that will affect almost all Americans, and will deliver an estimated $150 billion of direct relief to Americans and their families. Read more
- Economic Recovery Act Payments
- Community Development Financial Institutions
- New Markets Tax Credit
- Health Insurance Tax Credit Administration
- *NEW* Energy Grants in Lieu of Tax Credits
- *NEW* Low Income Housing Grants in Lieu of Tax Credits
- Native American CDFI Assistance
- Tax Provision Oversight
- Tax Relief Programs
Your Treasury Dollars at Work:
Making Progress, Making Headlines
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August 26, 2009
Treasury Announces $309 Million In Recovery Act Funds To Create Jobs, Provide Affordable Housing
As part of the Obama Administration's effort to strengthen communities and ease pressures on the housing market, the U.S. Department of the Treasury today announced $309 million in American Recovery and Reinvestment Act (Recovery Act) funding to spur the development of affordable housing units in Arizona, Connecticut, North Carolina, North Dakota, Pennsylvania, South Carolina, and Vermont. Read more.
Department of Treasury Recovery Plans, Recovery Program Reports, and other agency- and program-specific reports required by the Recovery Act will be posted on this site as they become available.
Last Updated:
August 26, 2009
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| KEY LINKS |
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FinancialStability.gov |
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Financial Regulatory Reform: A New Foundation |
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American Recovery and Reinvestment Act |
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U.S.-China Strategic and Economic Dialogue (S&ED) |
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Secretary's Corner |
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| Find Out How to Apply For:
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Payments for Specified Energy Property in Lieu of Tax Credits - APPLICATIONS NOW BEING ACCEPTED |
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Grants |
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Contracts |
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Low Income Housing Grants in Lieu of Tax Credits |
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| Bureau Resources |
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Community Development Financial Institutions |
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Financial Management Service (FMS) |
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Internal Revenue Service |
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Public Debt's Recovery Act Page |
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Lobbyist Disclosure |
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| NEWS CLIPS |
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August 26, 2009
Treasury Announces $309 Million In Recovery Act Funds To Create Jobs, Provide Affordable Housing
As part of the Obama Administration's effort to strengthen communities and ease pressures on the housing market, the U.S. Department of the Treasury today announced $309 million in American Recovery and Reinvestment Act (Recovery Act) funding to spur the development of affordable housing units in Arizona, Connecticut, North Carolina, North Dakota, Pennsylvania, South Carolina, and Vermont. (Read The Full Article).
August 20, 2009
Secretary Geithner, Governor Strickland Tout Benefits of Recovery Act School Bonds Program
As part of the Obama Administration's efforts to highlight the local impact of economic stimulus programs, Treasury Secretary Tim Geithner and Ohio Governor Ted Strickland today visited the construction site for a future school building funded through Qualified School Construction Bonds. (Read The Full Article).
August 13, 2009
Treasury, Energy Announce more than $2 Billion in Recovery Act Tax Credits for Energy Manufacturers
As part of an innovative partnership aimed at increasing economic development while setting our nation on the path to energy independence, the U.S. Department of the Treasury and the U.S. Department of Energy today announced a program to award $2.3 billion in tax credits to manufacturers of advanced energy equipment. Authorized by the American Recovery and Reinvestment Act (Recovery Act), this new program will provide tax credits to manufacturers who produce clean energy equipment. (Read The Full Article). |
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