U.S. Financial Crisis: American Recovery and Reinvestment Act of 2009
The United States is in the midst of a serious financial crisis. You can read full text of the
American Recovery and Reinvestment Act of 2009
on the
Thomas web site
from the
Library of Congress
. This Act lays out a new plan to address the crisis and is currently being debated in the
U.S. Congress
. It was passed by the
House of Representatives
on January 28, 2009, but must also pass the
Senate
before it can be presented to the
President
to sign into law. This bill proposes unemployment and welfare expansion, tax cuts, and investment in infrastructure, healthcare, education, and energy.
Some of the goals of the Act are to:
-
Create 3 to 4 million jobs over the next two years.
-
Computerize every citizen's medical records in five years.
-
Double renewable energy generating capacity over three years.
-
Provide healthcare coverage for nearly 8.5 million Americans.
-
Enhance the security of 90 major ports.
-
Increase food stamp benefits for over 30 million Americans.
If the Act is passed, citizens will have the ability to see how the funds are spent at
Recovery.gov
.
Additional Resources:
