The Car and Truck Fleet and Leasing Management Magazine

American Recovery and Reinvestment Act

On Feb. 13, 2009, Congress passed the American Recovery and Reinvestment Act of 2009 at the urging of President Obama, who signed it into law four days later. A direct response to the economic crisis, the Recovery Act has three immediate goals:

  • Create new jobs and save existing ones
  • Spur economic activity and invest in long-term growth
  • Foster unprecedented levels of accountability and transparency in government spending

The Recovery Act intends to achieve those goals by:

  • Providing $288 billion in tax cuts and benefits for millions of working families and businesses
  • Increasing federal funds for education and health care as well as entitlement programs (such as extending unemployment benefits) by $224 billion
  • Making $275 billion available for federal contracts, grants and loans
  • Requiring recipients of Recovery funds to report quarterly on how they are using the money.  All the data is posted on Recovery.gov  so the public can track the Recovery funds.

In addition to offering financial aid directly to local school districts, expanding the Child Tax Credit, and underwriting a process to computerize health records to reduce medical errors and save on health care costs, the Recovery Act is targeted at infrastructure development and enhancement. For instance, the Act plans investment in the domestic renewable energy industry and the weatherizing of 75 percent of federal buildings as well as more than one million private homes around the country.

Construction and repair of roads and bridges as well as scientific research and the expansion of broadband and wireless service are also included among the many projects that the Recovery Act will fund. [text taken from www.recovery.gov]

 

Comment On This Item

Name:  
Email:  
Comment: (Maximum 10000 characters)  
Leave this field empty:
* Please note that comments may be moderated.

Blog

Market Trends

Mike Antich
Avoid Repeating Past Inefficiencies: Build the Truck to Match Today’s Application

By Mike Antich
I asked one fleet manager how he spec’ed replacement trucks for his fleet application. He related that many years earlier an OEM rep spec’ed out his trucks and he has been using the same formula ever since. While this may work in some cases, specifications should be defined by today’s fleet application to ensure the replacement truck is designed to accommodate current operational requirements rather than trying to make your operation conform to trucks spec’ed for yesteryear’s requirements.

Conduct an Efficiency Audit to Eliminate Waste in Your Fleet Budget

By Mike Antich

View All

Driving Notes

Amy Winter-Hercher
2017 Subaru Impreza

By Amy Winter-Hercher
The redesigned 2017 Impreza has been built on Subaru’s new platform that improves stability and reduces road noise and vibration. The fuel-efficient, all-wheel-drive Impreza makes for a good commuter vehicle — available in either a sedan or hatchback.

2017 Mazda CX-5

By Eric Gandarilla

View All

Nobody Asked Me, But...

Sherb Brown
Yes Virginia, There is Depreciation

By Sherb Brown
Depreciation is a necessary evil in our industry. Knowing your risks and knowing your OEM partners won’t make depreciation go away but it can make it more manageable.

Are You a Fleet Manager or Are You Just Managing a Fleet

By Sherb Brown

View All

Data Points

Dylan Brown
Does Telematics Branding Translate to Adoption?

By Dylan Brown
We asked over 750 fleet professionals questions about the prevalence of each provider in the market and their brand recognition.

How Fleet Size Dictates Telematics Needs

By Dylan Brown

View All

In Memoriam: Coach's Insights

Ed Bobit
Thinking of the Newbies of the Future

By Ed Bobit
A lot has changed in the past 10-15 years, so we can only imagine this momentum will continue into the next decade-plus. How will this change impact the fleet manager of tomorrow?

Managing a Car vs. Work Truck Fleet

By Ed Bobit

View All

STORE

More From The World's Largest Fleet Publisher