ARRA: Stimulus for the 21st century

By Wayne Rogers,Sonnenschein Nath & Rosenthal
0
1625
LinkedIn
Facebook
Twitter
Whatsapp
Telegram
Copy link

The American economy is in crisis. More than 3.5 million jobs were lost over the last year. Americans have not seen this level of employment decline since the end of World War II. The stock market has dropped significantly, banks have curtailed lending and consumer confidence is low. The economic press is comparing the current situation to that which prevailed in the Great Depression. US President Barack Obama and the US congress have responded to the need for swift and bold action to counter this economic emergency.

Wayne Rogers,Advisor,Sonnenschein Nath & Rosenthal
Wayne Rogers
Senior advisor
Sonnenschein Nath & Rosenthal

On 17 February, the president signed into law the most ambitious economic stimulus plan in US history: the American Recovery and Reinvestment Act (ARRA) of 2009. The act provides a US$780 billion package, a third of which takes the form of tax cuts for 2009 while the rest is to be spent on a wide range of programmes in 2009 and 2010.

With ARRA, the president and congress have focused not only on tax cuts and spending to stimulate the economy, but also on job creation. Specific goals and provisions of the package include the following items.

You must be a subscribersubscribersubscribersubscriber to read this content, please subscribesubscribesubscribesubscribe today.

For group subscribers, please click here to access.
Interested in group subscription? Please contact us.

你需要登录去解锁本文内容。欢迎注册账号。如果想阅读月刊所有文章,欢迎成为我们的订阅会员成为我们的订阅会员

已有集团订阅,可点击此处继续浏览。
如对集团订阅感兴趣,请联络我们

Wayne Rogers is a senior adviser in the international law firm of Sonnenschein Nath & Rosenthal, where he specializes in international trade and cross-border transactions. He may be reached at +1-202-408-6478 or wrogers@sonnenschein.com.

logo_-_SNR

1301 K St, NW, Suite 600E

Washington, DC 20005

United States

Tel: +1 202 408 6478

Email: wrogers@sonnenschein.com

www.sonnenschein.com

LinkedIn
Facebook
Twitter
Whatsapp
Telegram
Copy link