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Simple English definitions for legal terms
American Recovery and Reinvestment Act of 2009
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A quick definition of American Recovery and Reinvestment Act of 2009:
The American Recovery and Reinvestment Act of 2009 (ARRA) was a big law that gave a lot of money to help families and small businesses during the Great Recession. The law spent money on things like tax cuts, unemployment benefits, food assistance, building and repairing public housing, creating jobs through infrastructure projects, clean energy, healthcare, education, and helping small businesses. The goal was to help people who were struggling and create new jobs to boost the economy.
A more thorough explanation:
The American Recovery and Reinvestment Act of 2009 (ARRA), also known as the Recovery Act, was a law passed by the United States Congress in response to the Great Recession. The law provided over $747 billion in funding to help families and small businesses recover from the economic downturn.
The ARRA focused on several key areas, including:
- Tax cuts, tax credits, and unemployment benefits to provide relief for families
- Increased funding for the Supplemental Nutrition Assistance Program (SNAP)
- Infrastructure projects to create jobs and reduce unemployment
- Repairing and building public housing
- Clean energy production
- Subsidizing healthcare for the unemployed and modernizing healthcare
- Broad educational funding within schools and college grants
- Broadband infrastructure targeting rural areas
- Small business investment to spark new jobs
- State fiscal stabilization
For example, the ARRA provided funding for infrastructure projects such as building and repairing roads, bridges, and public transportation systems. This created jobs for construction workers and helped to stimulate the economy. The law also provided funding for clean energy production, which helped to reduce the country's dependence on fossil fuels and create jobs in the renewable energy sector.
Overall, the American Recovery and Reinvestment Act of 2009 was a significant piece of legislation that helped to mitigate the effects of the Great Recession and support economic recovery in the United States.