Economic Stimulus
Below is the full text of the American Recovery and Reinvestment Act otherwise known as the economic stimulus plan or just the stimulus. The stimulus bill was passed through both the US House of Representatives and the Senate. The stimulus plan has a number of tax breaks included in it for small businesses, entrepreneurs and new technologies. President Obama was integral in getting the package passed and has been campaigning for it for quite some time.
Reaction to the stimulus has been mixed, to say the least. It doesn’t appear that too many people are ecstatic about the bill, but while some have outright derided the bill, some believe it to be a necessary piece of legislation. The bill appeared to cut along party lines and is considered by many to be the first in a long series of opposition stances by the Republican members of the 111th Congress. Many political pundits have asserted that they also believe the stimulus package is the beginning of the new wave of American Republicans and helped them define the new direction of the party.
The stimulus bill is a mixture of a number of different programs. It is full of tax cuts for businesses — large and small alike — and for individuals as well as federal payments to citizens intended to stimulate the economy. There are also a number of programs supported by the stimulus like environmental technology and new education initiatives. To read the bill for yourself, peruse the full text below.
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