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$15 billion: Expansion of child tax credit: A $1,000 credit to more families (even those that do not make enough money to pay income taxes). $14 billion: Expanded college credit to provide a $2,500 expanded tax credit for college tuition and related expenses for 2009 and 2010. The credit is phased out for couples making more than $160,000.
His administration continued the banking bailout and auto industry rescue begun by the previous administration and immediately enacted an $800 billion stimulus program, the American Recovery and Reinvestment Act of 2009 (ARRA), which included a blend of additional spending and tax cuts. By March 2010, the private sector began creating jobs ...
Known as "The Stimulus", ARRA was a roughly $800 billion mix of tax cuts (about one-third) and spending programs (about two-thirds) with the primary impact spread over three years. [49] Many economists argued the stimulus was too small, while conservatives such as the Tea Party argued that deficit reduction was the priority. [50]
One of President Obama's accomplishments during his first 100 days was the passage of a $787 billion stimulus plan. I think the idea of economic stimulus makes sense when an economy is in the ...
The United States combined many stimulus measures into the American Recovery and Reinvestment Act of 2009, a $787 billion bill covering a variety of expenditures from rebates on taxes to business investment. $184.9 billion was to be spent in 2009, and $399.4 billion was to be spent in 2010 with the remainder of the bill's appropriations spread ...
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Feb. 13, 2008: President George W. Bush signs a $170 billion stimulus package into law. The Dow closes at 12,552.24, up 1.4%. ... News that an additional $800 billion in federal funds is available ...
With a cost of $700 to $800 billion, the stimulus plan would cost more than a quarter million dollars per job created (divide 750 billion by 2,500,000 yielding $300,000). [113] In a nationally televised interview on December 7, he acknowledged that his agenda has changed over the past month, and that a short-term stimulus package had again ...