It probably depends which president you refer to. Bush's stimulus bill is the The Economic Stimulus Act of 2008 and Obama's is the American Recovery and Reinvestment Tax Act of 2009. Usually we talk about Obama's bill these days, but it all depends in what context.
On February 13, 2009, in direct response to the economic crisis and at the urging of President Obama, Congress passed the American Recovery and Reinvestment Act of 2009 -- commonly referred to as the "stimulus" or the "stimulus package." Four days later, the President signed the Recovery Act into law. In 2011, the original expenditure estimate of $787 billion was increased to $840 billion to be in line with the President's 2012 budget and with scoring changes made by the Congressional Budget Office since the enactment of the Recovery Act.
To achieve the goal of transparency, the Act requires recipients of Recovery funds to report every January, April, July, and October on how they are using the money. All the data? Is posted on Recovery.gov so the public can track the Recovery funds.
In addition to offering financial aid directly to local school districts, expanding the Child Tax Credit, and underwriting the computerization of health records, the Recovery Act is targeted at infrastructure development and enhancement. For instance, the Act provides for the weatherizing of 75 percent of federal buildings and more than one million private homes. Construction and repair of roads and bridges as well as scientific research and the expansion of broadband and wireless service are being funded.
There is no end date written into the Recovery Act because, while many of Recovery Act projects are focused on jumpstarting the economy, others are expected to contribute to economic growth for many years. To view the full bill, click here. The Office of Management and Budget frequently publishes guidance to the federal agencies on how they should implement requirements defined in the Recovery Act.
In addition, the Council of Economic Advisers issues reports to the President outlining the impact of the Recovery Act on the overall economy. The guidance and reports are found below. The Office of Management and Budget also provided guidance on Recipient Reporting.
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