Consumers
Extended Unemployment Insurance
Date:
June 1, 2008
Who:
Dept. of Labor
Policy Area:
Fiscal Policy
Economic Target:
Consumers
Action Type:
Direct Spending
Maximum Amount:
$12.80 billion
Amount Spent:
$12.80 billion
Deficit Impact:
$8.50 billion Increase in funding for unemployment benefits and extension of emergency compensation through August 27, 2009.
Notes:
Actual cost unavailable, amounts based on 2009 CBO estimates of related bill (http://www.cbo.gov/ftpdocs/91xx/doc9148/hr5749.pdf). Amount spend and maximum amount based upon cost for 2008 and 2009, deficit impact represents ten year cost.
Individual Tax Rebates
Date:
February 13, 2008
Policy Area:
Fiscal Policy
Economic Target:
Consumers
Action Type:
Tax Break
Maximum Amount:
$106.00 billion
Amount Spent:
$96.00 billion
Deficit Impact:
$106.00 billion This law (H.R. 5140) provided tax rebates to certain individuals filing for tax years 2007 or 2008. For individuals with a income-lax liability or an earned income of at least $3,000, rebates were between $300 and $600. For couples filing joint tax returns, the tax rebates were between $600 and $1,200. In addition, individuals or couples received a $300 tax credit for each child living in their household. The law stipulated that the rebates would be phased out for incomes exceeding $75,000 for individuals and $150,000 for couples filing together.
Source:
Notes:
Maximum amount and deficit impact indicates CBO estimates for Fiscal Year 2008 and Fiscal Year 2009. Amount spent indicates money distributed as of 12/31/2008 (http://www.treasury.gov/press/releases/hp1351.htm).
Other Individual Tax Breaks
Date:
February 17, 2009
Who:
IRS
Policy Area:
Fiscal Policy
Economic Target:
Consumers
Action Type:
Tax Break
Maximum Amount:
$0.00 billion
Deficit Impact:
$0.00 billion Provisions are part of the $787 billion "American Recovery and Reinvestment Act of 2009," a set of policies designed to mitigate the effects of the economic crisis. The act contains significant spending for direct worker assistance, infrastructure, healthcare, education, aid to states, and
