American Recovery and Reinvestment Act of 2009

The American Recovery and Reinvestment Act ( German American recovery and Reinvestitionsgesetz ) is a statute enacted by the United States federal law that should fight as an economic program since 2007, the ruling economic and financial crisis. It was launched by President Barack Obama immediately after his inauguration in mid-January 2009 on the way. The bill with a total volume of around 787 billion U.S. dollars (about 625 billion euros ) was adopted on 13 February 2009 by both houses of Congress and signed by the President on 17 February 2009.

  • 2.1 House of Representatives
  • 2.2 Senate
  • 2.3 conciliation
  • 2.4 Final adoption of the common bill

Measures

Tax cuts - 275 billion dollars

The law provides tax refunds of $ 500 for individuals and $ 1,000 for a married couple 's income tax, coupled with a tax credit of $ 2,500 for students and $ 7,500 for the building of houses ( until 30 June 2009).

Educational investments - 141.6 billion U.S. dollars

The modernization of schools in various programs financed by 79 billion and in a second step with a further 41 billion dollars. The education grant Pell Grant should be increased by $ 500, for which $ 15.6 billion is estimated. More $ 6,000,000,000 provided for the modernization of universities.

Infrastructure investments - 90 billion U.S. dollars

The infrastructure should be promoted through modernization and expansion of existing facilities and networks:

  • 31 billion U.S. dollars for the modernization of public infrastructure with a focus on energy efficiency
  • 30 billion U.S. dollars for the modernization and expansion of the road network
  • 19 billion U.S. dollars for water, flood protection, waste
  • 10 billion U.S. dollars for the expansion and modernization of the railway network

Healthcare - 112.1 billion U.S. dollars

The recovery plan includes major investments in the health system before:

  • 87 billion U.S. dollars for the " Medicaid " system
  • 20 billion U.S. dollars for the construction of a medical information system and the introduction of electronic health cards
  • 4.1 billion U.S. dollars for prevention and health information systems

Unemployment - 102 billion dollars

To combat unemployment and job creation are provided:

  • 43 billion U.S. dollars for unemployment insurance and education grants
  • 39 billion U.S. dollars for health insurance, " Medicaid " and the " COBRA " program ( Consolidated Omnibus Budget Reconciliation Act of 1985)
  • 20 billion U.S. dollars for the Food Stamp program, a food program for the needy

Energy saving investments - 58 billion U.S. dollars

Investments in the energy sector mainly go in exploiting the potential savings:

  • 32 billion U.S. dollars for a smart grid
  • 20 billion U.S. dollars in tax breaks for renewable energy
  • 6 billion U.S. dollars for the modernization of housing

Others

In the law, a compensation payment in the amount of 198 million U.S. dollars is provided for Filipino veterans who had fought in the Second World War on the side of the United States.

Legislative procedure

Newly elected President Barack Obama already recruited early January 2009 for its planned stimulus package with even 775 billion U.S. dollars.

House of Representatives

End of January 2009, the stimulus plan was introduced and discussed in the House of Representatives. On 28 January 2009, the 819 billion U.S. dollars comprehensive economic program with the votes of 244 Democrats against Republicans and 177 Democrats 11 was decided.

Senate

In the Senate, the Republicans demanded higher tax cuts and more help for the real estate market. Obama urged a rapid adoption of the economic stimulus package. On 7 February 2009, Democrats and Republicans agreed on a significant reduction in the program from 940 to 780 billion U.S. dollars. Obama increased the meantime the pressure on the Senate to adopt the program. Obama went in some states on promotional tour for his economic program, thus increasing the public pressure. The Senate passed the stimulus package on 10 February 2009 with 61 to 37 votes. The three Republican Senators Arlen Specter, Susan Collins and Olympia Snowe could be gained for the bill.

Conciliation

Once the scope of the stimulus package was increased from 827, to 838 billion U.S. dollars in the bill of the Senate, the bill had again discussed by the House of Representatives and be approved. In the Conference Committee, a compromise proposal was drawn up on 11 February 2009, which provided for a financial volume of 789 billion U.S. dollars for the recovery plan in the final version.

Final adoption of the common bill

The stimulus package was finally approved on 13 February 2009 by the House of Representatives with 246 votes against 176 votes of the Democrats of the Republicans and seven Democrats, and later in the Senate by 60 votes against 38 votes of the Democrats of the Republicans.

Joe Biden Act of Congress United States congressional conference committee Economic Stimulus Act of 2008 Emergency Economic Stabilization Act of 2008
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