American Recovery and Reinvestment Act of 2009

The American Recovery and Reinvestment Act of 2009 was a significant federal stimulus package aimed at combating the economic downturn caused by the 2008 financial crisis. It allocated approximately $787 billion to boost the economy through tax cuts, job creation, and funding for infrastructure projects, education, and healthcare. The act sought to support individuals and businesses, promote economic growth, and preserve public services. By investing in various sectors, the government aimed to stimulate demand, restore confidence, and create millions of jobs, fostering a quicker recovery from the recession.