Signed by President Obama on February 17, 2009, the recovery bill called the American Recovery and Reinvestment Act of 2009 (ARRA) seeks to modernize the economy, health care and education while creating jobs for the American people.  This bill was to build off of attempts by the Bush administration to promote economic activity through tax reimbursements in 2008.  A politically controversial maneuver to say the least, the recovery legislation attempts to stimulate the economy through "boost[ing] economic activity during periods of economic weakness by increasing short-term aggregate demand." (the Congressional Budget Office).  While the final version of the bill allocates over $789 billion, only $10 billion have been spent to date (less than 2% of the President's stated goals for the funds).

Links:

• New York Times- Overview of the Economic Stimulus

• Small Business Administration- Economic Stimulus Package

• National Council of State Legislators- State Economic Stimulus Plans

• National Council of Nonprofits- Special Reports on Economic Stimulus & Recovery

• Official site of the ARRA (with full text of legislation here)

• American Library Association- ARRA

• Internal Revenue Service

• Governor Schwarzenegger launches the California Green Corps with ARRA funds