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.

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

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