A more thorough explanation:

Definition: The Economic Stimulus Act of 2008 was a law passed by the United States government to help boost the economy during the Great Recession. The law included several measures to help individuals and businesses. For example, individuals could receive extra money in the form of a tax rebate, and businesses could benefit from increased tax deductions for certain assets. The law also aimed to help the struggling housing market by increasing the limits on certain types of loans.

Example: One example of how the Economic Stimulus Act of 2008 helped individuals was through the tax rebate. Many people received a check in the mail for up to $600, which they could use to buy things they needed or wanted. This extra money helped stimulate the economy by encouraging people to spend more.

Example: Another example of how the law helped businesses was through the increased tax deductions for certain assets. For example, if a business bought a new piece of equipment, they could deduct more of the cost from their taxes than they could before the law was passed. This made it easier for businesses to invest in new equipment and grow their operations.

Explanation: The examples illustrate how the Economic Stimulus Act of 2008 helped both individuals and businesses by providing them with extra money and tax incentives. By giving people more money to spend and businesses more money to invest, the law helped stimulate the economy and create jobs. This was important during the Great Recession, when many people were struggling to make ends meet and businesses were struggling to stay afloat.