American Recovery and Reinvestment Act

The American Recovery and Reinvestment Act (ARRA), enacted in 2009, was a response to the economic crisis following the 2008 financial meltdown. Its primary goal was to stimulate the economy by investing approximately $800 billion in various sectors, including infrastructure, education, healthcare, and renewable energy. The Act aimed to create jobs, bolster consumer spending, and avert further economic decline. It also included tax cuts and expanded social programs to support struggling families. Overall, ARRA sought to promote economic recovery and foster long-term growth in the United States.