Economic Recovery Act

The Economic Recovery Act refers to various legislative measures aimed at stimulating economic growth, particularly after a recession or economic downturn. These acts typically include tax cuts, increased government spending, and incentives for businesses to invest and hire. By boosting consumer confidence and spending, these measures seek to create jobs and restore economic stability. A well-known example is the Economic Recovery Act of 2009, which was introduced in response to the 2008 financial crisis, focusing on reviving the economy through a mix of fiscal strategies to encourage both immediate spending and long-term growth.