Full Answer
What does ARRA stand for?
American Recovery and Reinvestment Act of 2009. The American Recovery and Reinvestment Act of 2009 ( ARRA) ( Pub.L. 111–5 ), nicknamed the Recovery Act, was a stimulus package enacted by the 111th U.S. Congress and signed into law by President Barack Obama in February 2009. Developed in response to the Great Recession,...
What is the American Recovery and Reinvestment Act (ARRA)?
The American Recovery and Reinvestment Act (ARRA) called for a massive round of federal spending designed to create new jobs and recover jobs lost in the Great Recession of 2008.
What is ARRA 115?
Stat. 115 (2009) (Recovery Act or ARRA), was enacted to generate domestic economic activity. In keeping with this goal, Congress included strict domestic source requirements for iron, steel, and manufactured goods used in public works projects receiving Recovery Act funds.
How does ARRA help the transportation system?
ARRA includes appropriations and tax law changes totaling approximately $787 billion to support government wide efforts to stimulate the economy. Over $48 billion of those funds are being invested in transportation infrastructure, including $8.4 billion for transit capital improvements made available through FTA programs.
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Is the ARRA grant real?
HAVE YOU BEEN OFFERED AN ARRA GRANT OVER THE PHONE? IT IS A KNOWN SCAM. To report a spam call to the FTC, click here or call 1-877-382-4357.
What does the ARRA provide funds for?
The American Recovery and Reinvestment Act (ARRA), also known as the Federal Stimulus Package, will provide a greater share of dollars to state and local governments for federally-sponsored health care programs.
What is ARRA stimulus?
The American Recovery and Reinvestment Act of 2009 (ARRA) is a job and economic stimulus bill intended to help states and the nation restart their economies and stimulate employment during the worst economic downturn in over 70 years.
What did the ARRA Act do?
The American Recovery and Reinvestment Act of 2009 (Recovery Act) - which President Obama signed into law on February 17th, 2009 - was an unprecedented action to stimulate the economy. It included measures to modernize our nation's energy and communication infrastructure and enhance energy independence.
How do I know if a grant is legitimate?
Here are five ways to spot a grant scam:Did you apply for a grant? ... Is a fee involved? ... Is the grant for business or personal use? ... What agency does the issuer represent? ... Were you asked for either your personal or your company's ID or your bank account information?
How much is a ARRA?
The approximate cost of the economic stimulus package was estimated to be $787 billion at the time of passage, later revised to $831 billion between 2009 and 2019.
When did ARRA funding end?
A1. Understanding that the availability of ARRA funds will change as we proceed until the funds expire - on September 30, 2015, the Office of the Chief Financial Officer (OCFO) will pull periodic reports determining deobligated State balances.
What is ARRA in healthcare?
The American Recovery and Reinvestment Act (ARRA) was enacted into law in 2009. It established incentive payments for eligible professionals (EPs), eligible hospitals, and critical access hospitals (CAHs) to promote the adoption and meaningful use of Certified Electronic Health Record Technology (CEHRT).
What is ARRA compliance?
The American Recovery and Reinvestment Act (ARRA), Section 1605 further expands this notion by requiring that domestic manufactured goods that contain materials from another country must be considered substantially transformed in the US into new and different goods that are distinct from the materials from which it was ...
Is ARRA still in effect?
Added to Programs No Longer Administered by the California Department of Education (CDE) on June 11, 2015 and subsequently updated on May 13, 2016.
Is ARRA the same as Buy American?
The American Recovery and Reinvestment Act of 2009, also known as "ARRA" or the "stimulus bill." Section 1605 of the Recovery Act (Pub. L. 111-5), also referred to as "Buy American" in this document.
How successful was the American Recovery and Reinvestment Act?
A range of independent estimates have confirmed the effectiveness of the President's actions. According to the non-partisan Congressional Budget Office, the Recovery Act supported as many as 3.5 million jobs across the country by the end of last year.
What was the purpose of the American Recovery and Reinvestment Act quizlet?
The purpose of the American Recovery and Reinvestment Act was to create government jobs and to spend with the hopes of "jump-starting" the economy. The result was that economic recovery was slow and many Americans were left unemployed and receiving government assistance.
When did ARRA funding end?
A1. Understanding that the availability of ARRA funds will change as we proceed until the funds expire - on September 30, 2015, the Office of the Chief Financial Officer (OCFO) will pull periodic reports determining deobligated State balances.
Which of the following areas did the American Recovery and Reinvestment Act of 2009 provide funding for quizlet?
[1] The Act included direct spending in infrastructure, education, health, and energy, federal tax incentives, and expansion of unemployment benefits and other social welfare provisions. It also created the President's Economic Recovery Advisory Board.
Was the ARRA successful?
And despite claims to the contrary, these efforts were successful in preventing another Depression, and returning our economy to growth. As of January 2014, the economy has now added private sector jobs for 47 consecutive months, and a total of 8.5 million jobs has been added over that period.
Overview
Since President Obama signed the American Recovery and Reinvestment Act (ARRA) [ Pub. L. 111-5] in February 2009, FTA has awarded 1,072 grants for over $8.78 billion, including FHWA flex funding, and all the transit formula and discretionary funds provided by ARRA have now been "obligated" or committed to specific transit projects.
Funds Obligated
FTA has awarded 983 grants for a total of $8.33 billion. Of these funds, $6.96 billion has been disbursed to grant recipients and an additional $1.37 billion remains obligated but not yet disbursed.
What is the buy American provision in ARRA?
ARRA included a protectionist 'Buy American' provision, which imposed a general requirement that any public building or public works project funded by the new stimulus package must use only iron, steel and other manufactured goods produced in the United States.
How much will the GDP decrease in 2019?
A February 4, 2009, report by the Congressional Budget Office (CBO) said that while the stimulus would increase economic output and employment in the short run, the GDP would, by 2019, have an estimated net decrease between 0.1% and 0.3% (as compared to the CBO estimated baseline).
What was the stimulus package that caused outrage in the Canadian business community?
A May 15, 2009, Washington Post article reported that the 'Buy American' provision of the stimulus package caused outrage in the Canadian business community, and that the government in Canada "retaliated" by enacting its own restrictions on trade with the U.S.
How much did the stimulus package cost?
The approximate cost of the economic stimulus package was estimated to be $787 billion at the time of passage, later revised to $831 billion between 2009 and 2019. The ARRA's rationale was based on the Keynesian economic theory that, during recessions, the government should offset the decrease in private spending with an increase in public spending in order to save jobs and stop further economic deterioration.
What is the American Recovery and Reinvestment Act?
American Recovery and Reinvestment Act of 2009. An Act making supplemental appropriations for job preservation and creation, infrastructure investment, energy efficiency and science, assistance to the unemployed, State, and local fiscal stabilization, for the fiscal year ending September 30, 2009, and for other purposes.
How much of the stimulus package is going to Medicaid?
The Act specifies that 37% of the package is to be devoted to tax incentives equaling $288 billion and $144 billion, or 18%, is allocated to state and local fiscal relief (more than 90% of the state aid is going to Medicaid and education).
How much was the House tax credit in 2009?
House – About $145 billion for $500 per-worker, $1,000 per-couple tax credits in 2009 and 2010. For the last half of 2009, workers could expect to see about $20 a week less withheld from their paychecks starting around June. Millions of Americans who don't make enough money to pay federal income taxes could file returns next year and receive checks. Individuals making more than $75,000 and couples making more than $150,000 would receive reduced amounts.
How The Scam Works
Did you receive an e-mail or a phone call from somebody claiming to be from ARRA and having a grant on your name? In this article you’ll learn how the scam works and how to report it.
Watch How The ARRA Scam Works
Watch the video below to see the Recovery Act Federal Grant scam exposed:
Related Pages And Articles
Are you a big fan of Etsy? Here are a bunch of fake Etsy-like websites!
What is the American Rescue Plan Act?
On March 11, 2021, President Biden signed the American Rescue Plan Act of 2021 (H.R. 1319) into law. The $1.9 trillion package, based on President Biden’s American Rescue Plan, is intended to combat the COVID-19 pandemic, including the public health and economic impacts.
How much is the Elder Justice Act?
The Elder Justice Act program is the only dedicated federal funding source available to states and counties to prevent elder fraud and abuse. $276 Million.
When did Biden sign the American Rescue Plan Act?
On March 11, 2021, President Biden signed the American Rescue Plan Act of 2021 ( H.R. 1319) into law. The $1.9 trillion package, based on President Biden’s American Rescue Plan, is intended to combat the COVID-19 pandemic, including the public health and economic impacts.
How much is the Northeast Corridor funding?
Provides funding available through FY 2024, including $970.39 million for the Northeast Corridor and $729.61 million for the National Network. Provides $50 billion for FEMA’s Disaster Relief Fund to meet the immediate needs of state, local, tribal and territorial governments.
Understanding The American Recovery and Reinvestment Act
- The American Recovery and Reinvestment Act (ARRA) was a massive round of federal spending intended to create new jobs and recover jobs lost in the Great Recession of 2008. This government spending was to compensate for a slowdown in private investment in that year. La…
Objectives of The Arra
- Among the primary initiatives introduced by the ARRA were: 1. Tax relief for families, including withholding reductions up to $800 per family and a nearly $70 billion extension of the alternative minimum tax14 2. Over $120 billion in new spending on infrastructure projects4 3. Healthcare expansion, including $87 billion in aid to states to help cover additional recession-related Medic…
Support For The Arra
- Contemporary reactions to the ARRA were originally a mix of positive and negative, mostly predictably falling along partisan lines, but with a high degree of good-faith disagreement among economists as to the wisdom and expected results of massive fiscal stimulus. Supporters felt that the stimulus spending was not sufficient to draw the national economy out of the recession…
Criticisms of The Arra
- Opponents of the ARRA felt that the massive government spending would invariably be inefficient and hampered by bureaucratic obstacles. In a June 2009 Forbes magazine opinion article, "The $787 Billion Mistake," economist Lee Ohanian argued that the economy was showing early but promising signs of recovery without the stimulus having yet taken effect.8 Asserting "the econo…
Arra Effectiveness
- More than a decade later, the lack of a conclusive counterfactual scenario makes evaluation of the ARRA difficult. It is impossible to say with precision what direction the economy would have taken without the ARRA. Probably the most reliable way to do so is to compare the alternative economic projections used to justify the ARRA to the actual results. Harvard economist Gregory …
Overview
The American Recovery and Reinvestment Act of 2009 (ARRA) (Pub.L. 111–5 (text) (PDF)), nicknamed the Recovery Act, was a stimulus package enacted by the 111th U.S. Congress and signed into law by President Barack Obama in February 2009. Developed in response to the Great Recession, the primary objective of this federal statute was to save existing jobs and create new one…
Provisions of the Act
Section 3 of ARRA listed the basic intent behind crafting the law. This Statement of Purpose included the following:
1. To preserve and create jobs and promote economic recovery.
2. To assist those most impacted by the recession.
Legislative history
Both the House and the Senate versions of the bills were primarily written by Democratic congressional committee leaders and their staffs. Because work on the bills started before President Obama officially took office on January 20, 2009, top aides to President-Elect Obama held multiple meetings with committee leaders and staffers. On January 10, 2009, President-Elect Obama'…
Buy American provision
ARRA included a protectionist 'Buy American' provision, which imposed a general requirement that any public building or public works project funded by the new stimulus package must use only iron, steel and other manufactured goods produced in the United States.
A May 15, 2009, Washington Post article reported that the 'Buy American' provision of the stimulus package caused outrage in the Canadian business community, and that the government in Cana…
Recommendations by economists
Economists such as Martin Feldstein, Daron Acemoğlu, National Economic Council director Larry Summers, and Nobel Memorial Prize in Economic Sciences winners Joseph Stiglitz and Paul Krugman favored a larger economic stimulus to counter the economic downturn. While in favor of a stimulus package, Feldstein expressed concern over the act as written, saying it needed revision to addres…
Congressional Budget Office reports
The CBO estimated ARRA would positively impact GDP and employment. It projected an increase in the GDP of between 1.4 percent and 3.8 percent by the end of 2009, between 1.1 percent and 3.3 percent by the end of 2010, between 0.4 percent and 1.3 percent by the end of 2011, and a decrease of between zero and 0.2 percent beyond 2014. The impact to employment would be an increas…
Recovery.gov
A May 21, 2009, article in The Washington Post stated, "To build support for the stimulus package, President Obama vowed unprecedented transparency, a big part of which, he said, would be allowing taxpayers to track money to the street level on Recovery.gov..." But three months after the bill was signed, Recovery.gov offers little beyond news releases, general breakdowns of spend…
Developments under the Act and estimates of the Act's effects
The Congressional Budget Office reported in October 2009 the reasons for the changes in the 2008 and 2009 deficits, which were approximately $460 billion and $1.41 trillion, respectively. The CBO estimated that ARRA increased the deficit by $200 billion for 2009, split evenly between tax cuts and additional spending, excluding any feedback effects on the economy.