Money Morning - Economic stimulus package 2009
Obama’s economic team will be faced with the grand task of restoring confidence to Americas stricken financial sector, and may have to wrestle the U.S. economy out of its worst downturn in decades. President-elect Obama made it clear that the first priority for he and his team will be to pass an economic stimulus package in 2009. [2]
President-elect Barack Obama yesterday (Monday) formally unveiled his economic team, including the nomination of New York Federal Reserve Bank President Timothy F. Geithner as the new administration’s U.S. Treasury secretary. The team’s first challenge will be assembling an economic stimulus package that could be even larger than the $700 billion Troubled Asset Relief Program (TARP) the Bush Administration has deployed. [3]
Economic Stimulus Tax Cut Package 2009 President Obama has proposed an economic stimulus tax cut package for 2009 which contain about $275 billion worth of tax cuts to individual tax payers as well as businesses. The idea behind this money is to promote individual spending as well as business spending and job creation. The large amount of the tax cuts is partially due to the need to get Republican support for stimulus package. [4]
[1- CNN]
[2- Moneymorning]
[3- Istockanalyst]
[4- Four Pillars]