2009 Stimulus Package

- Signed into law by President Obama on February 17, 2009
- Final version passed in The House 246-183FoxNews: House Approves Final $787B Stimulus Bill (February 13, 2009)
- Proposed version by the Senate was for a $838 billion billCNN.com: For House and Senate, it's time to compromise (February 10, 2009)
- Another version proposed by the Senate included $110 billion more in tax cutsCNN.com: For House and Senate, it's time to compromise (February 10, 2009)
- Cleared Republican hurdle in the Senate on a 61-36 voteCNN.com: Stimulus bill clears critical hurdle (February 9, 2009)
- Three Republican senators joined 58 democrats to pass the hurdle
- The House of Representatives version first approved the bill on January 28, 2009The New York Times: Republicans Are Resistant to Obama's Stimulus Plan (January 25, 2009)
- 2/3 of the plan devoted to government spending, 1/3 to tax cutsThe New York Times: Republicans Are Resistant to Obama's Stimulus Plan (January 25, 2009)
- Provides assistance to banks beyond that which is currently offered by TARP
- Obama's approval rating upon suggesting the stimulus: about 70%
- Aims to double U.S. renewable energy capacity within 3 yearsMSNBC.com: Obama: Stimulus plan means lower power bills (January 24, 2009)
- Obama allegedly told Republican Senators they should back his bill because "I won"WSJ.com: Partisan Rancor Seeps Into Talks on Stimulus Plan (January 24, 2009)
- The previous stimulus package was approved in February 2008LA Times: Obama plans to campaign for economic stimulus package (December 31, 2008)
- Package developed in coordination with other leading Democrats, including House Speaker Nancy PelosiPolitico: Obama to meet with Hill leaders (January 1, 2009)
- Includes tax cuts in the form of a tax credit
- Obama held a cocktail reception on January 28, 2009, the same day that the bill was passed in the HouseThe New York Times: Obama Holds Reception for Congressional Leaders (January 28, 2009)

The Congress passed a $787 billion stimulus package on February 13, 2009. The measure passed in the House with no Republican votes. Three Republican senators, Susan Collins, Olympia Snowe and Arlen Specter joined the Democrats to pass the bill, by a vote of 60-38, in the Senate. President Barack Obama, who originally drafted the American Recovery and Reinvestment Plan, signed the bill into law on February 17, 2009.
On April 14, 2009, during a speech at Georgetown University, President Obama shared with the country that his stimulus package is beginning to "generate signs of economic progress." He cited the facts that workers are being hired and credit is beginning to flow. He also warned that tough times are not over for the American people.Bloomberg: ...Pitfalls Ahead Before Economy Recovers (April 14, 2009)
Stimulus Refusal

On February 19, 2009, Republican governors Rick Perry (Texas), Haley Barbour (Mississippi), Bobby Jindal (Louisiana), Sarah Palin (Alaska),Mark Sanford (South Carolina) and C.L. "Butch" Otter (Idaho) have all commented that they're considering turning down any funds.Washington Times: Some governors won't take stimulus money (February 19, 2009)
Specific Provisions
- $180 billion to states to expand unemployment benefitsWSJ.com: Partisan Rancor Seeps Into Talks on Stimulus Plan (January 24, 2009)
- Upgrade 10,000 schoolsMSNBC.com: Obama: Stimulus plan means lower power bills (January 24, 2009)
- Make federal buildings more energy efficientMSNBC.com: Obama: Stimulus plan means lower power bills (January 24, 2009)
- Triple undergraduate and graduate science fellowshipsMSNBC.com: Obama: Stimulus plan means lower power bills (January 24, 2009)
- Shift to electronic medical recordsMSNBC.com: Obama: Stimulus plan means lower power bills (January 24, 2009)
- Invest in preventative health careMSNBC.com: Obama: Stimulus plan means lower power bills (January 24, 2009)
- Add 3,000 miles of electrical linesMSNBC.com: Obama: Stimulus plan means lower power bills (January 24, 2009)
- One-time $300 payment to senior citizensWSJ.com: Partisan Rancor Seeps Into Talks on Stimulus Plan (January 24, 2009)
- $8 billion investment in high-speed rail, to put people to work improving tracks, crossing and signal repairNew York Times: Slice of Stimulus Package Will Go to Faster Trains (February 20, 2009)
- $2 billion for energy department projectsSeattle Times: Stimulus package to create 4,400 jobs at Hanford (February 20, 2009)
Criticism

Many Republicans have opposed the bill, including notable conservative pundits Rush Limbaugh and Ann Coulter, and no Republicans voted to pass the bill in the House of Representatives. Republicans have opposed the bill because they say it includes too much spending, but doesn't include enough tax cuts or jobs.USA Today: Stimulus uncertainty: How fast will the impact be? (January 28, 2009) Republicans drafted an alternative to the bill, which mostly included tax cuts. That bill was defeated with 266-170.Houston Chronicle: House approves $819 billion economic stimulus bill (January 28, 2009)
Nostimulus Petition

Americans for Prosperity, a conservative political group, started a petition against the stimulus package. With publicity and the viral nature of the Internet, the group's website went down on February 9, 2009, as people visited the site en-masse. The group opposed the stimulus package because of what it considered excessive government spending. The fear is that the package will put an extreme burden on taxpayers over the long term.Real Time Economics (WSJ): 'No Stimulus' Petition Illustrates Public Anger Over Plan (February 9, 2009)
House Vote

The U.S. House of Representatives approved a $819 billion version of the stimulus bill on January 28, 2009. That bill was originally developed by President Barack Obama. The plan included provisions to spend 75% of the total cost, or about $600 billion, by the end of the year 2010, to provide a significant boost to the struggling U.S. economy.The New York Times: Republicans Are Resistant to Obama's Stimulus Plan (January 25, 2009) No Republicans voted for the bill in the House, and 11 additional Democrats voted against it.
2008 Stimulus Package

The 2008 stimulus plan of $168 billion was approved in February 2008 and included tax rebates in form of rebate checks, a rescue plan for distressed mortgages and tax breaks for small businesses.

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- Are there any benefits for senior citizens in the 2009 economic stimulus package? 2 Answers
  
  Sounds like there's good and bad news for seniors when it comes to the stimulus plan. Excerpts from a Spectrum Online article: The American Recovery and Reinves... read more
- does the stimulus package help people who purchase new vehicles this year?? and also new home buyers?? 1 Answer
  
  Yes it definitely does especially if you are a first time buyer, "First-time home buyers would receive an $8,000 tax credit, and they wouldn't have to repay the... read more
- Is the 30% credit for installing a geothermal system only used to offset taxes due? If I have paid already do I still get the 30% check? 1 Answer
  
  Tax credits reduce dollar per dollar the amount of income tax that would otherwise be due. The credit for geothermal equipment is nonrefundable, meaning that yo... read more
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Comments (1)

deaniekaplan added a comment December 17, 2009 06:17 PM
| Report

How about helping an old disabled woman with two disabled sons, who has had to used credit cards for medical reason, to the amount of $20,000? I am on a small fixed income....my sons had to f ile for disability after having to return home to live with me. We all worked and paid our taxes....now I need help....is there any help for me?
Deanie Kaplan, Alabama

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