American Recovery and Reinvestment Act (ARRA)

The American Recovery and Reinvestment Act (ARRA), enacted in 2009, was a federal law aimed at stimulating the U.S. economy during the Great Recession. It allocated approximately $787 billion to boost job creation, increase consumer spending, and invest in infrastructure projects. The act included tax cuts for individuals and businesses, funding for education and healthcare, and financing for renewable energy initiatives. The goal was to revive the economy, reduce unemployment, and foster long-term economic growth through strategic investments and financial support to various sectors.