- Personal Finance
Summary of the 2009 Stimulus Check
Today is a historic day as President Obama signed the American Recovery and Reinvestment Act of 2009 into law today in Denver, CO.
What does that mean you, the average person of the general public in America?
The primary people who are being helped by this stimulus bill should be the majority of the United States as this bill will create or save 3.5 Million jobs, and add additional cash to the working public.
Everyone will have a $500 tax rebate (or $1000 for married couple) added to their paychecks for the remainder of the year. Instead of 1 lump sum Stimulus Check that happened in 2008 under the Bush Administration, everyone is getting a rebate taken out of each pay check. Over the course of the year, it will add up to $500 (or $1000). A little extra cash each week.
There are prime benefits for the unemployed on unemployment. Those on unemployment will see their benefits run through the rest of 2009 if they were set to expire before then. Everyone on unemployment should have health benefits because of the COBRA payments where the government is paying up to 60% of someones health insurance through COBRA.
Then on top of all this, there are money stimulus packages set aside to create jobs throughout the country like those for road improvements. In the next couple months there should be many more jobs opening up for people to be employed with.