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The American Recovery and Reinvestment Act of 2009
Understanding The American Recovery and Reinvestment Act of 2009: A Legal Overview
Definition & Meaning
The American Recovery and Reinvestment Act of 2009 (ARRA) is a significant economic stimulus package enacted by the 111th United States Congress. Signed into law by President Barack Obama on February 17, 2009, the Act aims to revitalize the American economy, create or preserve millions of jobs, and address long-standing challenges facing the nation. It includes measures designed to enhance transparency and accountability in government spending, while also targeting investments in various sectors to foster long-term economic growth.
Table of content
Legal Use & context
The ARRA is primarily used in the context of economic recovery and public finance. It is relevant in legal discussions surrounding federal funding, budget management, and economic policy. Legal practitioners may encounter the Act when dealing with issues related to government contracts, grants, and compliance with federal regulations. Users can manage related forms and procedures with the help of US Legal Forms templates, which are drafted by qualified attorneys.
Key legal elements
Real-world examples
Here are a couple of examples of abatement:
One example of the ARRA in action is the funding allocated for infrastructure projects, such as road repairs and public transportation improvements, which aimed to create jobs while enhancing community resources. Another example is the financial assistance provided to unemployed individuals, helping them sustain their livelihoods during the economic downturn.
Relevant laws & statutes
The ARRA itself is the primary statute relevant to this topic. It encompasses various provisions aimed at economic recovery, job creation, and accountability in government spending. Other related laws may include federal regulations governing the allocation of funds and compliance requirements for recipients of ARRA funding.
Comparison with related terms
Term
Description
Difference
Economic Stimulus
General term for measures to stimulate the economy.
The ARRA is a specific legislative act that provides targeted funding and support.
Federal Recovery Programs
Programs aimed at economic recovery.
The ARRA includes specific funding mechanisms and accountability measures not present in all recovery programs.
Common misunderstandings
What to do if this term applies to you
If you believe the ARRA may impact your situation, consider exploring available resources and forms through US Legal Forms. These templates can assist you in navigating applications for funding or understanding compliance requirements. For complex issues, seeking professional legal advice is recommended.
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