1. What is ARRA? Detail what did/does/will it do in the future for the American
ID: 90039 • Letter: 1
Question
1. What is ARRA? Detail what did/does/will it do in the future for the American people?
2. Detail (including facts and figures) one Health/Science/Technology issue that stems from ARRA.
1. What is a positive about it
2. What is a negative about it
3. Has it been or will it be accomplished
3. Detail (including facts and figures) one NON Health/Science/Technology issue that stems from ARRA.
1. What is a positive about it
2. What is a negative about it
3. Has it been or will it be accomplished Please provide the links you found during your research of these topics.
Explanation / Answer
1. ARRA stands for American Recovery and Reinvestment Act. It is a stimulus package provided by american government to its people in form of economic support to fight recession and low times in economy. It was signed in 2009 by then president Barrack Obama and includes lot of funding support for Science, Engineering, Technology,Research, Education,Infrastructure, and social well being, It is a very good measure that prevents recession. It supports youth with unemployment benefits, and relieves them from federal tax. It provides recovery to the economy in times of slowdown and promotes re investment.
2. Health/Science & Technology Issues:
It added approx $87 billion to the annual budget for combating health care issues during recession. It gave $10 billions to National Institute of Health. It offered $17 billion to modernize the healthcare technology services. It had $10 billion for research in terms of disease cure, $ 4 billion to expand broadband infrastructure to the distant rural areas, and $4 billions for increasing physics and chemistry research.
3. Non-Health/Science & Technology Issues:
It allocated $54 billions to support small businesses with tax reduction, credits and loan benefits.It improved education sector by supporting districts with $54 billion funds for giving teacher's salaries, $21 million for modernizing school facilities,and $12 billion to support the training programs of disables. It supported families with immediate relief with $800 tax cuts for families, unemployment benefits extended for 33 weeks and so on.
Many reports and polls complained that their taxes have increased rather than decreasing. Small businesses complained that the Loan guarantees and tax deductions did not improve their condition. But ARRA had a very positive effect because after ARRA was introduced, the recession ended just within 3 months. Economic growth also raised by 1.3%, about 2.4 million private jobs and 1.7 millions govt jobs were added to the economy in first 18 month of ARRA introduction.
Source: www.thebalance.com/arra-details/
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