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Table of Contents
- Overview
Table of Contents
- Overview
The American Recovery and Reinvestment Act being voted on today in Congress includes significant federal funding for state health care, education, and other services. This funding will allow states to reduce significantly the size of budget cuts that would otherwise likely have been enacted and to maintain essential services. As the avoided state budget cuts would have taken billions of dollars out of local economies, this state fiscal relief will likely reduce the severity of the national recession.
This Facts at a Glance examines the three major provisions of the law that will help Massachusetts to balance the state budget. For the most part the funding provided in these provisions can be used over three years: Fiscal Year (FY) 2009, FY 2010, and FY 2011. In addition to state fiscal relief, the legislation provides funding to stimulate the economy in other ways, such as by investing in infrastructure, cutting taxes, and providing aid to the unemployed and others suffering from the effects of the recession. For a discussion of the effectiveness of various forms of economic stimulus spending, click here
Table of Contents
- Overview
