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In the primary justification for the stimulus package, the Obama administration and Democratic proponents presented a graph in January 2009 showing the projected unemployment rate with and without the ARRA. [12] The graph showed that if ARRA was not enacted the unemployment rate would exceed 9%; but if ARRA was enacted it would never exceed 8%.
According to the Tax Policy Center, the Obama plan provides three times as much tax relief for middle-class families as the McCain plan. [235] Obama's plan includes a temporary "Making Work Pay" program, which gives a tax credit at 6.2% of earned income up to $400 for single workers (making less than $75,000/yr), and an $800 for married couples ...
Speaking in Cleveland, President Barack Obama offered more details of his plan to get the nation's economic recovery back in gear. Facing polling data that shows his Democratic party may lose one ...
A stimulus package is most often a government program providing economic stimulus.. Examples in the United States include the Economic Stimulus Appropriations Act of 1977; the Economic Stimulus Act of 2008; the American Recovery and Reinvestment Act of 2009; the CARES Act in 2020 and American Rescue Plan Act of 2021.
A ‘vote-a-rama’ made the deal possible.
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The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (Pub. L. 111–312 (text), H.R. 4853, 124 Stat. 3296, enacted December 17, 2010), also known as the 2010 Tax Relief Act, was passed by the United States Congress on December 16, 2010, and signed into law by President Barack Obama on December 17, 2010.
The GDP hole is so big it may require a second fiscal stimulus package, says Laura Tyson, a member of President Obama's Economic Advisory Panel, the Agence France-Presse reported Tuesday.