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Recovery and Reinvestment Act of 2009

Barack Obama started his presidency with an economic crisis on his hands and a $1.2 trillion budget deficit hanging over the federal government.

In his first week, he urged Congress to pass an economic stimulus bill big enough to jolt the economy out of recession. The president called for a massive green jobs stimulus that could put people thousands of people back to work and at the same time reduce the nation's carbon footprint and its dependence on foreign oil.

Congress responded with the American Recovery and Reinvestment Act of 2009. Both house passed a $787 billion compromise version of the bill on Feb. 13 -- Friday the 13th -- that includes $78 billion for renewable energy projects, green transporation and energy efficiency. Despite the president's efforts at bipartisanship, only three Republicans out of the entire Congress voted in favor.

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Bottom Line Roundup

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    2/17/09 - President Obama signed the $787 billion economic stimulus bill today, saying: "I don't want to pretend that today marks the end of our economic problems, nor does it constitute all of what we're going to have to do to turn our economy around. But today does mark the beginning of the end." The American Recovery and Reinvestment Act of 2009  includes more than $78 billion for clean energy, smart grid technology, energy efficiency and green transportation.

     

    2/13/09 - Congress Sends $787B Compromise Bill to the President

    The U.S. House and Senate each passed a $787 billion compromise version of the economic stimulus package today and sent it to President Obama for his signature. Once again, only three Republicans voted in favor of the legislation.

     

    2/10/09 - Senate Approves $838B Stimulus

    The U.S. Senate passed an $838 billion version of the stimulus package on a 61-37 vote. Only three Republicans -- Sens. Susan Collins and Olympia Snowe of Maine and Arlen Specter of Pennsylvania -- voted in favor. Now, negotiations begin to try to reconcile the House and Senate plans and get the legislation to the president.

     

    1/26/09 - House Passes $819B Stimulus Bill

    The full U.S. House passed the stimulus bill on a 244-188 vote. The legislation, initially an $825 billion package, was sent to the U.S. Senate at $819 billion.

     

    1/22/09 - House Committees Vote

    The House Energy and Commerce Committee, Appropriations Committee, and Ways and Means Committee each approved its sections of the American Recovery and Reinvestment Act of 2009. The full House could vote on the bill before February.

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