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Stimulus Package
A stimulus package is most often a government program providing economic stimulus. Examples in the United States include the Economic Stimulus Appropriations Act of 1977; the Economic Stimulus Act of 2008; the American Recovery and Reinvestment Act of 2009; the CARES Act in 2020 and American Rescue Plan Act of 2021. Examples elsewhere include Thai Khem Khaeng, a 2009 and 2010 program in Thailand; the Kenya Economic Stimulus Programme in 2009; the 2008 Chinese economic stimulus program; the July Jobs Stimulus in Ireland in 2020; the ROC consumer voucher in Taiwan; and the Triple Stimulus Voucher Triple Stimulus Vouchers were a series of vouchers issued in response to the 2020 Coronavirus recession by the government of the Republic of China as part of its post-epidemic revitalisation of the business climate in the country, as the economy ... in China. References Fiscal policy Keynesian economics {{econ-policy-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stimulus (economics)
In economics, stimulus refers to attempts to use monetary policy or fiscal policy (or stabilization policy in general) to stimulate the economy. Stimulus can also refer to monetary policies such as lowering interest rates and quantitative easing. A stimulus is sometimes colloquially referred to as "priming the pump" or "pump priming". Concept During a recession, production and employment are far below their sustainable potential due to lack of demand. It is hoped that increasing demand will stimulate growth and that any adverse side effects from stimulus will be mild. Fiscal stimulus refers to increasing government consumption or transfers or lowering taxes, increasing the rate of growth of public debt. Supporters of Keynesian economics assume the stimulus will cause sufficient economic growth to fill that gap partially or completely via the multiplier effect. Monetary stimulus refers to lowering interest rates, quantitative easing, or other ways of increasing the amou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States
The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 contiguous states border Canada to the north and Mexico to the south, with the semi-exclave of Alaska in the northwest and the archipelago of Hawaii in the Pacific Ocean. The United States asserts sovereignty over five Territories of the United States, major island territories and United States Minor Outlying Islands, various uninhabited islands in Oceania and the Caribbean. It is a megadiverse country, with the world's List of countries and dependencies by area, third-largest land area and List of countries and dependencies by population, third-largest population, exceeding 340 million. Its three Metropolitan statistical areas by population, largest metropolitan areas are New York metropolitan area, New York, Greater Los Angeles, Los Angel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Stimulus Appropriations Act Of 1977
The Economic Stimulus Appropriations Act of 1977 was a stimulus package enacted by the 95th Congress and signed into law by President Jimmy Carter on 13 May 1977. Developed in response to the longest and deepest economic recession In economics, a recession is a business cycle contraction that occurs when there is a period of broad decline in economic activity. Recessions generally occur when there is a widespread drop in spending (an adverse demand shock). This may be tr ... post World War II, the primary objective of the stimulus package was to provide the economy with a boost. The bill's rationale was based on Keynesian economics, Keynesian economic theory, providing tax reductions and increasing jobs to boost private spending, preventing the economy from any further slowdown. The approximate cost of the bill was estimated to be $20.1 billion spread across 1977 and 1978, where the act helped to create 9.3 million jobs, the largest increase in job creation for any presidency. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Stimulus Act Of 2008
The Economic Stimulus Act of 2008 () was an Act of Congress providing for several kinds of economic stimuli intended to boost the United States economy in 2008 and to avert a recession, or ameliorate economic conditions. The stimulus package was passed by the U.S. House of Representatives on January 29, 2008, and in a slightly different version by the U.S. Senate on February 7, 2008. The Senate version was then approved in the House the same day. It was signed into law on February 13, 2008, by President George W. Bush with the support of both Democratic and Republican lawmakers. The law provides for tax rebates to low- and middle-income U.S. taxpayers, tax incentives to stimulate business investment, and an increase in the limits imposed on mortgages eligible for purchase by government-sponsored enterprises (e.g. Fannie Mae and Freddie Mac). The total cost of this bill was projected at $152 billion for 2008. Tax rebates Tax rebates that were created by the law were paid to i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Recovery And Reinvestment Act Of 2009
The American Recovery and Reinvestment Act of 2009 (ARRA) (), nicknamed the Recovery Act, was a Stimulus (economics), stimulus package enacted by the 111th U.S. Congress and signed into law by President Barack Obama in February 2009. Developed in response to the Great Recession, the primary objective of this federal statute was to save existing jobs and create new ones as soon as possible. Other objectives were to provide temporary relief programs for those most affected by the recession and invest in infrastructure, education, health, and renewable energy. The approximate cost of the economic stimulus package was estimated to be $787 billion at the time of passage, later revised to $831 billion between 2009 and 2019. The ARRA's rationale was based on the Keynesian economic theory that, during recessions, the government should offset the decrease in private spending with an increase in public spending in order to save jobs and stop further economic deterioration. The politics a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CARES Act
The Coronavirus Aid, Relief, and Economic Security Act, also known as the CARES Act, is a $2.2trillion Stimulus (economics), economic stimulus bill passed by the 116th U.S. Congress and signed into law by President Donald Trump on March 27, 2020, in response to the economic fallout of the COVID-19 pandemic in the United States. The spending primarily includes $300billion in one-time cash payments to individual people who submit a tax return in America (with most single adults receiving $1,200 and families with children receiving more), $260billion in increased unemployment benefits, the creation of the Paycheck Protection Program that provides forgivable loans to small businesses with an initial $350billion in funding (later increased to $669billion by subsequent legislation), $500billion in loans for corporations, and $339.8 billion to state and local governments. The original CARES Act proposal included $500billion in direct payments to Americans, $208billion i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Rescue Plan Act Of 2021
The American Rescue Plan Act of 2021, also called the COVID-19 Stimulus Package or American Rescue Plan, is a economic stimulus bill passed by the 117th United States Congress and signed into law by President Joe Biden on March 11, 2021, to speed up the country's recovery from the economic and health effects of the COVID-19 pandemic and recession. First proposed on January 14, 2021, the package builds upon many of the measures in the CARES Act from March 2020 and in the Consolidated Appropriations Act, 2021, from December. On February 8, 2021, the Financial Services and Education and Labor committees released a draft of $1.9 trillion stimulus legislation. A portion of the relief package was approved by the House Ways and Means on February 11, setting it up for a vote in the House. The legislation was also approved by the Transportation and Infrastructure, Small Business, and House Veterans Affairs committees. On February 22, the House Budget Committee voted 19–16 to a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Thai Khem Khaeng
Thai Khem Khaeng (Thai: ไทยเข้มแข็ง, alternately romanized as Thai Khem Khang, 'Strong Thailand') was a Thai economic stimulus investment program imposed by the government of Abhisit Vejjajiva in the years 2009 and 2010, led by Finance Minister Korn Chatikavanij. The program consist of two major stimulus packages injected in the Thai economy involving vast investments in industry, science, technology, agriculture, logistics and infrastructure, environment, education, labour and tourism and the positive impact remains in the economy up to the present. Historical context Thailand became a great exporter almost 200 years ago, mainly to the Southeast Asia and US. The long history in exporting lead to a state, in which more than 60% of Thailand's Gross Domestic Product (GDP) came from export. In July 1997 a financial collapse of the Thai Baht occurred due to lack of foreign currency to support its currency peg to the U.S. dollar. The collapse caused the country t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kenya Economic Stimulus Programme
The Economic Stimulus Programme (ESP) was a spending plan initiated by the Government of Kenya to boost economic growth and lead the Kenyan economy out of the 2007–2008 Kenyan crisis and the Great Recession. It was introduced in the 2009/2010 Budget Speech in parliament by Finance Minister Uhuru Kenyatta. Its aim was to jumpstart the Economy of Kenya towards long term growth and development, after the 2007–2008 Kenyan crisis and post-election violence that affected the Kenyan economy. Other economic problems included prolonged drought, a rally in oil prices and food prices, and the effects of the Great Recession. The stimulus was a response to the decline in the economic growth rate from 7.1% in 2007 to 1.7% in 2009. The total budget allocated amounted to KSh.22 billion/= (260 million US$), with the money going towards the construction of schools, horticultural markets, jua kali sheds and public health centres in all the 210 constituencies. Key Objectives 1. Boost the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chinese Economic Stimulus Program
The 2008–09 Chinese economic stimulus plan () was a RMB¥ 4 trillion (US$586 billion) stimulus package aiming to minimize the impact of the Great Recession on the economy of China. It was announced by the State Council of the People's Republic of China on 9 November 2008. The economic stimulus plan was seen as a success: While China's economic growth fell to almost 6% by the end of 2008, it had recovered to over 10% by in mid-2009. Critics of China's stimulus package have blamed it for causing a surge in Chinese debt since 2009, particularly among local governments and state-owned enterprises. The World Bank subsequently went on to recommend similar public works spending campaigns to western governments experiencing the effects of the Great Recession, but the US and EU instead decided to pursue long-term policies of quantitative easing. Announcement A statement on the government's website said the State Council of the People's Republic of China had approved a plan to inve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
July Jobs Stimulus
The July Jobs Stimulus is a €7.4 billion stimulus package announced by the Government of Ireland on 23 July 2020 in response to the economic impact of the COVID-19 pandemic in the Republic of Ireland. The package includes 50 measures to boost economic recovery and get people back to work. The spending primarily includes €115 million for active travel, public transport and renewal of transport infrastructure, €75 million for primary and secondary schools to carry out reconfiguration works necessary to support schools' reopening in late August and September 2020 and €112 million in employment services and supports to deliver 47,500 training and apprenticeship places and a €450 million package of business supports including a €250 million Restart Grant to provide direct grant aid to businesses with up to 250 employees to help them with the costs associated with reopening and reemploying workers. The COVID-19 Pandemic Unemployment Payment, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ROC Consumer Voucher
The Republic of China Consumer Voucher () is a type of voucher issued by the government of the Republic of China in times of economic troubles. In 2009, the first series of vouchers was issued in respond to the Great Recession and a second series (known as the Triple Stimulus Vouchers) was issued in 2020 in response to the COVID-19 recession. The second series was issued both as physical vouchers as well as digital e-vouchers. 2009 issues The 2009 ROC consumer voucher programme was a part of an economic stimulus package held by the government of the Republic of China. The distribution of the vouchers to every ROC citizen born before 31 March 2009 and some foreign residents (i.e. spouses of citizens) began on 18 January 2009. The purpose of these vouchers was to combat the effects of the Great Recession. According to government officials, the vouchers had to be picked up before 30 April 2009, had to be used before 30 September 2009, and could not be deposited into bank accounts. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
