President Signs Massive Stimulus Bill; Nearly $300 Billion in Tax Relief
The much-anticipated economic stimulus package, the American Recovery and Reinvestment Act of 2009 (ARRTA), is now law. President Obama signed this historic measure on February 17. Moving through Congress in less than four weeks, the new law won House approval on February 13 by a 246-183 margin, followed by same-day Senate passage 60-38.
The $787 billion new law, which contains nearly $300 billion in tax relief, sets in motion a wave of direct spending and tax incentives to jump start the U.S. economy out of recession. Read more….