Second Stimulus Package

- Signed into law on February 17, 2009
- Approved in Congress on February 13, 2009
- First passed in the Senate on February 10, 2009, 61-38CNN.com: For House and Senate, it's time to compromise (February 10, 2009)
- The $838 billion Senate version, which was rejected, included $110 billion more in tax cutsCNN.com: For House and Senate, it's time to compromise (February 10, 2009)
- Package was developed in coordination with other leading Democrats, including House Speaker Nancy PelosiPolitico: Obama to meet with Hill leaders (January 1, 2009)
- Plan includes investments in infrastructure, school construction, energy efficiency, broadband access and healthcare technologyFinancial Times: Republicans threaten to delay stimulus (January 1, 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)
- 75% of the total cost to be spent by the end of the year 2010The New York Times: Republicans Are Resistant to Obama's Stimulus Plan (January 25, 2009)
- Includes $180 billion to states to expand unemployment benefitsWSJ.com: Partisan Rancor Seeps Into Talks on Stimulus Plan (January 24, 2009)
- The original stimulus plan of 2008 cost: $168 billionCNN: Here comes stimulus - question is how (October 20, 2008)
- Talks on a second stimulus package started in July 2008 in Congress
- First stimulus package was approved in February 2008

The $787 American Recovery and Reinvestment Plan was signed into law on February 17, 2009 by President Barack Obama. The bill is the second comprehensive package approved to stimulate the economy; the first was signed into law in 2008 by President George W. Bush. The second bill was approved by Congress on February 13, 2009.
Due to the continuing problems with the economy, there has been talk of implementing a second major stimulus package of 2009. However, the White House has said nothing about it, and Congressional leadership has yet to put forward any legislation about it.
Background

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.
In July 2008, Congress began to discuss a second economic stimulus bill to bolster a weak economy after approving a $152 billion package in February of 2008.FOXNews.com: Congress Considers Second Economic Stimulus Package (July 23, 2008)
After the volatility that occurred on Wall Street following the Mortgage Bailout Plan, congressional Democrats pressed President Bush for a second stimulus package. On October 20, 2008, Federal Reserve Chairman Ben Bernanke said he supported an additional fiscal stimulus.Fox News: Bernanke Proposes More Government Stimulus, Wall Street Bites (October 20, 2008)President Bush indicated he wanted time to see if the first economic stimulus package was working before considering a second plan.Reuters: Infrastructure could spur new stimulus: Rep (July 22, 2008)
2009 Stimulus Bill

President Barack Obama developed the second stimulus bill. There were several revisions made to the bill before it was passed in Congress and the final bill was the result of negotiations between the House and the Senate. The bill 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.