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On February 8, 2009, a letter to Congress signed by about 200 economists in favor of the stimulus, written by the Center for American Progress Action Fund, said that Obama's plan "proposes important investments that can start to overcome the nation's damaging loss of jobs", and would "put the United States back onto a sustainable long-term ...
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 ...
Critics of U.S. affordable housing policies have cited three aspects of governmental affordable housing policy as having contributed to the financial crisis: the Community Reinvestment Act, HUD-regulated affordable housing mandates imposed upon Fannie Mae and Freddie Mac, and HUD's direct efforts to promote affordable housing through state and ...
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In October 2008, the Swiss National Bank funded a reorganization of UBS that removed bad assets from its books, and later sold its equity stake at a profit. In November 2008, the U.S. government purchased $27 billion of preferred stock in Citigroup, a USA bank with over $2 trillion in assets, and warrants on 4.5% of its common stock. The ...
The plan included 365.5 billion dollars to be spent on major policy and reform of the health system, 275 billion (through tax rebates) to be redistributed to households and firms, notably those investing in renewable energy, 94 billion to be dedicated to social assistance for the unemployed and families, 87 billion of direct assistance to ...
In addition to stimulus checks, 19 states are offering relief in the form of tax refunds for the remainder of 2022. These payments range from $50 (Illinois) to $3,200 (Alaska) but vary from state ...
Krugman has argued for a strong stimulus to address the risk of another depression and deflation, in which prices, wages, and economic growth spiral downward in a self-reinforcing cycle. [51] President Obama argued his rationale for ARRA and his spending priorities in his speech of February 25, 2009, to a joint session of Congress.