The American Recovery and Reinvestment Act of 2009

• Date: May 26, 2011
• Source: http://www.gpo.gov/

The ARRA was signed into law by President Barack Obama on February 17, 2009. The ARRA is a wide-ranging effort to jumpstart the weakened economy and to lay the groundwork for developing an economy that will be able to meet the challenges of the 21st century through investment in infrastructure, energy, education, and tax cuts. If successful, ARRA could create up to 3.5 million jobs by the end of 2010. The ARRA includes a large number of funding opportunities and tax incentives to support investment in clean energy at the local level. These incentives are designed to strengthen the economy and to promote clean and renewable energy.

The purposes of this Act

• To preserve and create jobs and promote economic recovery.
• To assist those most impacted by the recession.
• To provide investments needed to increase economic efficiency by spurring technological advances in science and health.
• To invest in transportation, environmental protection, and other infrastructure that will provide long-term economic benefits.
• To stabilize State and local government budgets, in order to minimize and avoid reductions in essential services and counterproductive state and local tax increases.

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