feb 17, 2009 - American Recovery and Reinvestment Act (ARRA) , 2009
Description:
The Obama administration set the stage for major education reforms through the American Recovery and Reinvestment Act of 2009, which included over $44 billion in stimulus funding for education. Developed in response to the Great Recession, the ARRA's primary objective was to save existing jobs and create new ones as soon as possible. Other objectives were to provide temporary relief programs for those most affected by the recession and invest in infrastructure, education, health, and renewable energy.
My interpretation: The American Recovery and Reinvestment Act had something for everybody. But it was almost too complicated. Many people were unsure whether they, in fact, received a tax break. Polls showed that many others thought their taxes had increased instead of decreased. Small businesses complained that loan guarantees and tax deductions didn't help them. That's because the orders just weren't coming in.
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