Economic Policy Crisis and the Stimulus (Softcover and ebook)
Analyses of the American Recovery and Reinvestment Act (ARRA) of 2009, HR 1, 111th Congress

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"The American Recovery and Reinvestment Act (ARRA) of 2009, HR 1 in the 111th Congress, will assist in supplemental appropriations for job preservation and creation, give financial help to the unemployed, and will provide State and local fiscal stabilization, for fiscal year ending September 30, 2009, and for other purposes."

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2009, 116 pages Softcover, $19.95 ISBN: 1587331497   ISBN 13: 978-1-58733-149-7 Ebook: $9.95 (free preview below) EISBN 13: 9781587332166 Available from your bookseller or online

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Synopsis	Table of Contents	Related Resources

The purposes of The American Recovery and Reinvestment Act (ARRA) of 2009 include the following: (1) To preserve and create jobs and promote economic recovery. (2) To assist those most impacted by the recession. (3) To provide investments needed to increase economic efficiency by spurring technological advances in science and health. (4) To invest in transportation, environmental protection, and other infrastructure that will provide long-term economic benefits. (5) To stabilize State and local government budgets, in order to minimize and avoid reductions in essential services and counterproductive state and local tax increases.

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Table of Contents

Analysis

"Economic Stimulus: Issues and Policies," CRS Report for Congress R40104, March 6, 2009 . . . . . . . . . . . . . . . 1

- The Current State of the Economy
- The 2009 Stimulus Package
- Preliminary Discussions
- House Proposal
- Senate Proposal
- The American Recovery and Reinvestment Act of 2009
- Discussion
- Issues Surrounding Fiscal Stimulus
- The Magnitude of a Stimulus
- Bang for the Buck
- Timeliness
- Long-term Effects
- Should Stimulus be Targeted?
- Is Additional Fiscal Stimulus Needed?
- Policies Previously Adopted
- Interventions for Financial Firms and Markets
- Table 1. Zandi's Estimates of the Multiplier Effect for Various Policy Proposals
- Table 2. Timing of Past Recessions and Stimulus Legislation

"Financial Market Intervention," CRS Report for Congress RS22963, January 29, 2009 . . . . . . . 25

- Current Concerns
- What, if anything, is wrong with the financial system?
- When did trouble in the financial markets start?
- What caused financial market turmoil?
- If 97% of mortgage borrowers are not in foreclosure, why is the financial turmoil so large?
- Where are the problem loans located?
- Who is affected by the financial turmoil?
- How have policymakers responded to financial turmoil?
- Why have the Federal Reserve's traditional tools not restored order in financial markets?
- What is contained in EESA, P.L. 110-343?
- What has Treasury done under the EESA?
- What legislation is being considered in the 111th Congress?
- What is a Bad Bank?

"'Fast Track' Procedures to Disapprove Additional Funds Under the Emergency Economic Stabilization Act," CRS Report for Congress R40134, January 15, 2009 . . . . 35

- Graduated Authorization to Purchase
- Expedited Parliamentary Procedures
- Reconvening Congress
- Text of the Joint Resolution
- Introduction
- Referral to Committee
- Committee Action in the House
- Calling Up the Joint Resolution on the Floor
- Floor Debate
- Motions, Amendments, Voting
- Automatic Legislative "Hookup"
- Additional Expedited Provisions
- Implications of Resolutions of Disapproval
- Either Chamber May Alter the Expedited Procedure
- Estimated Deadlines Under EESA Disapproval Process
- Table 1. Estimated Deadlines Under the EESA Disapproval Procedure

"Economic Slowdown: Issues and Policies," CRS Report for Congress RL34349, January 2, 2009 . . . . . 45

- The Current State of the Economy
- Is Additional Fiscal Stimulus Needed?
- Stimulus Proposals Enacted and Considered in 2008
- Tax Rebates
- Preliminary Evidence on the Rebates' Economic Effects
- Business Tax Incentives
- Housing Provisions
- Extending Unemployment Benefits
- Senate Committee Proposal
- A Proposed 2009 Stimulus Package
- Proposals Discussed in 2008
- The 2009 Proposals
- Comparing the Macroeconomic Effects of Various Proposals
- Bang for the Buck
- Timeliness
- Long-term Effects
- Should Stimulus be Targeted?
- Interventions for Financial Firms and Markets
- Case-by-Case Interventions
- Too Big to Fail
- Too Complex to Fail
- Broad Based Intervention
- Remove Illiquid Assets
- Broad Based Injection of Capital
- Figure 1. Consumption, Disposable Income, and Rebate Checks, January 2007 to September 2008
- Table 1. Estimated Budget Cost of Original House Bill (H.R. 5140)
- Table 2. Estimated Budget Cost for the Economic Stimulus Act of 2008 as Reported by the Senate Committee on Finance
- Table 3. Estimated Budgetary Cost of the Final Bill, H.R. 5140
- Table 4. Comparative Provisions of the Rebate
- Table 5. Receipt of Rebates by Month
- Table 6. Business Tax Provisions of the House, Senate Committee and Final Plans
- Table 7. Zandi's Estimates of the Multiplier Effect for Various Policy Proposals
- Table 8. Timing of Past Recessions and Stimulus Legislation

"The American Recovery And Reinvestment Act Of 2009: Full Summary of Provisions by the Senate Finance Committee and House, Ways & Means Committee," by the Senate Finance Committee and the House Ways & Means Committee, February 12, 2009 . . . . . 85

- Tax Relief for Individuals and Families
- Tax Incentives for Businesses
- Manufacturing Recovery Provisions
- Economic Recovery Tools
- Infrastructure Refinancing Tools
- Reinvestment in Renewable Energy
- Other Provisions
- Assistance for Families & Unemployed Workers
- Health Insurance Assistance
- State Fiscal Relief and Medicaid
- Health Information Technology
- Trade Provisions
- Debt Limit

"Obey Statement: American Recovery and Reinvestment Act," by Dave Obey, Chairman of the House Appropriations Committee, February 13, 2009 . . . . . . . 105
 

From the Congressional Deskbook

Legislative Process flowchart, § 8.01  . . . . . 109
Federal Budget Process flowchart, § 9.53 . . . . . 110
Typical Executive Budget Process Timetable, § 9.41 . . . . . 112
Volumes Containing and Explaining the President's Annual Budget, § 9.43 . . . . . 113

Other Resources . . . . . . 114

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