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In July 2010, the White House Council of Economic Advisers (CEA) estimated that the stimulus had "saved or created between 2.5 and 3.6 million jobs as of the second quarter of 2010". [104] At that point, spending outlays under the stimulus totaled $257 billion and tax cuts totaled $223 billion. [ 105 ]
In June 2009, dissatisfied with the pace of economic stimulus, Obama called on his cabinet to accelerate the investment. [45] By late 2013, the Federal Government had disposed of (re-privatized) all of its investments in Chrysler and GM. As of late 2016, taxpayers had recovered $71 billion of the $80 billion invested in the automobile industry. [2]
This tax holiday was intended as an economic stimulus by Obama and the Democrats, [3] with the value of boosting the disposable income of American families. [3] It would not worsen the Social Security program's financial strength, as the shortfall would be made up from general revenues. Some Republicans thus criticized the idea for increasing ...
As many as 1 million taxpayers will receive a "special" year-end gift from the IRS as the agency deposits pandemic-era stimulus checks worth a total of $2.4 billion directly in their bank accounts.
As part of the American Rescue Plan stimulus relief bill, states were allotted over $200 billion dollars to spend towards their economic recovery from the COVID-19 pandemic.
The stimulus money is meant to offset the cost of gas, a gallon of which now costs $6.30 in California on average, according to AAA. That’s the highest in the nation by 70 cents.
The bill was a counter-proposal to the American Recovery and Reinvestment Act of 2009 introduced by President Barack Obama. [1] HR 470 proposes to stimulate the economy without new government spending by implementing a permanent five-percentage point income tax cut for all taxpayers; it also would make permanent current capital gains and dividend tax rates at 15% (current law will allowing ...
Obama quickly began attempting to foster support for his economic stimulus package, American Recovery and Reinvestment Act of 2009. [3] The bill passed in the House on January 28, 2009, by a 244–188 vote, [ 4 ] and it passed in the Senate on February 10 by a 61–37 margin.