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Two years ago, the United States started slipping into the most severe recession in decades. Over the past six months, the economy has slowly begun to climb back, largely because of initiatives created by the American Recovery and Reinvestment Act of 2009.
The American Recovery Act, also known as the Stimulus Plan was signed into law by President Barack Obama on February 17, 2009. Since then, more than $787 billion have been pumped into our economy to increase economic activity and promote growth in the future. A large part of these funds were allocated to assisting unemployed Americans, creating many new provisions that you could, or may already be taking advantage of.
Stimulating Unemployment Funds
The Stimulus plan has dedicated $82.5 billion dollars to assist low-income workers, the unemployed and retirees. These funds have been used to provide several new benefits to the unemployed during 2009.
$40 billion dollars of the Stimulus Plan’s money allocated to unemployment is being used to provide unemployment recipients with more benefits.
During 2009, every individual who receives unemployment will receive an additional $25 per week. The Recovery Act also allows unemployment recipients to be eligible for 13 more weeks of unemployment benefits. In some states, these benefits could be extended even further, allowing unemployment recipients a total of more than 59 additional weeks of unemployment benefits.
Other Stimulus Initiatives
The American Recovery and reinvestment Act of 2009 has also allocated funds to several areas other than unemployment benefits that are intended to assist unemployed and low-income workers. Some of these additional provisions include:
- Using $40 billion to provide extended unemployment benefits through Dec. 31, 2009
- $19.9 billion to supplement the Food Stamp Program
- $3.95 billion invested in job training
- $3 billion in temporary welfare payments
- $400 million for employment services
- $120 million for subsidized community service jobs for older Americans
- $150 million to help refill food banks
- $100 million for meals programs for seniors, such as Meals on Wheels
- $100 million for free school lunch programs
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