The Stimulus Bill
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This paper examines how the American Recovery and Reinvestment Act of 2009, also known as H.R.1, is a government spending plan that is intended to move the country out of the recession and to prevent complete economic disaster. It looks at how the bill is set to provide money for many things from green jobs and road and highway construction to housing and healthcare and how it will provide tax cuts and create jobs.
From the Paper:"There are over $64 billion allotted for infrastructure investments, most of which will be spent on shovel-ready projects throughout the country, and many of which are in New York City. The infrastructure investments will create family-wage jobs, which cannot be outsourced to other countries because the work will be completed on our roads, bridges and transit systems (House Passes Stimulus Package; Rep. Michael E. McMahon Secures Tax Cuts and Funding for Critical Investments in Staten Island and Brooklyn, 2009).
"The bill also contains funds for tax breaks to be used for mass transit projects. The extent of the new tax break depends on how large the commuting bill is. In the case of New York City, the nation's largest user of mass-transit, a subway fare, used for trips within the city only, costs $2 one-way, so a round trip commute means a cost of $80 per month. For people living in the suburbs who travel into New York via commuter rail, the savings are more substantial because a month's worth of train fares tends to exceed $120. Obviously, the closer in one lives, the lower the price of a train ticket and the less valuable the new tax savings (Light, 2009)."
Sample of Sources Used:
- Hill, Jeffery. "What the Stimulus Bill Really Means for Cities." 2009. Next American City. 7 June 2009 http://www.liu.edu/cwis/cwp/library/workshop/citmla.htm
- "House Passes Stimulus Package; Rep. Michael E. McMahon Secures Tax Cuts and Funding for Critical Investments in Staten Island and Brooklyn." 2009. Congressman Michael E. McMahon, 7 June 2009 < http://mcmahon.house.gov/2009/02/house-passes-stimulus- package-rep-michael-e-mcmahon-secures-tax-cuts-and-funding-for-critical-invest.shtml>
- Light, Larry. "Stimulus Package Offers a Break for Mass-Transit Commuters." 2009. The Wall Street Journal, 7 June 2009, http://blogs.wsj.com/wallet/2009/03/11/stimulus-package- offers-a-break-for-mass-transit-commuters/
- Mason, J.W. "Federal Stimulus and Medicaid: How Big a Savings for the City?" 2009. IBO Weblog, 7 June 2009, http://www.ibo.nyc.ny.us/cgi-park/?p=7
- Meckler, Laura. "Obama Signs Stimulus Into Law." 2009. The Wall Street Journal, 7 June 2009, < http://online.wsj.com/article/SB123487951033799545.html>
Cite this Term Paper:
The Stimulus Bill (2011, November 14) Retrieved February 20, 2020, from https://www.academon.com/term-paper/the-stimulus-bill-148921/
"The Stimulus Bill" 14 November 2011. Web. 20 February. 2020. <https://www.academon.com/term-paper/the-stimulus-bill-148921/>