R40160
Agriculture, Nutrition, and Rural Provisions in the American Recovery and Reinvestment Act (ARRA) of 2009
February 23, 2009
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Summary
On February 17, 2009, President Obama signed into law H.R. 1, the American Recovery and Reinvestment Act of 2009 (ARRA, P.L. 111-5). The ARRA is a response to the depth of the economic recession facing the United States (and the rest of the world) at the beginning of 2009. It is billed as an economic stimulus package to improve the situation of individuals and businesses. The ARRA boosts government spending on various infrastructure programs and government benefits programs, and offers individual and business tax benefits. The Congressional Budget Office (CBO) estimates that the ARRA will cost $787 billion over 10 years, although most of its budget authority is slated for two fiscal years (FY2009-FY2010).
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Related Legislation:
- H.R.1
