Economic Stimulus Act of 2008

The Economic Stimulus Act of 2008 was a law enacted to boost the U.S. economy during the financial crisis. It provided direct payments—"stimulus checks"—to many individuals and families, hoping to encourage spending and support economic activity. The act also included tax incentives for businesses, such as deductions for new equipment, aiming to promote investment and job creation. Its goal was to quickly increase consumer and business spending to stabilize the economy and prevent deeper recession during a period of financial distress.