Economic Stimulus Act of 2008

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The Economic Stimulus Act of 2008 , also called Impulsprogramm or Impulspaket in German , is a law to support the economy of the United States . It combined various economic policy measures to avoid or mitigate a possible recession as a result of the global financial crisis . The law was signed by President George W. Bush on February 13, 2008.

activities

  • Middle and low income recipients receive discounts on federal income tax . The tax rebates were paid out to taxpayers in 2008 in the form of tax checks. Taxpayers with income below the tax -free allowance will be paid $ 300 (jointly taxed married couples $ 600). Add to this $ 300 per child under 17 years of age. Relatively low-income recipients are given more favorable treatment.
  • Tax relief for investors as an investment incentive.
  • The maximum amounts for mortgages that government-sponsored enterprises are allowed to acquire have been increased. The background to this is that the sharp rise in house prices before the financial crisis from 2007 onwards made it necessary to finance new house purchases in a volume that was greater than the amount that Fannie Mae or Freddie Mac were allowed to buy mortgages and thus refinance. Without such refinancing, the banks did not want to grant any more mortgages, so house prices fell due to the lack of financing for new purchases. This should be counteracted by raising the maximum limits.

Financial volume

The planned volume for the economic stimulus program for 2008 was 152 billion US dollars. Another $ 124 billion should be spent over the next ten years.

Individual evidence

  1. ↑ [1] January 8, 2002, Neue Zürcher Zeitung "US impulse program comes to new honors - the economy as the background to the exchange of blows"
  2. ↑ [2] HR 5140: Economic Stimulus Act of 2008, accessed October 25, 2008
  3. ↑ See also Lucas Zeise: End of the Party - The Explosion in the Financial Sector and the Crisis of the World Economy . Papyrossa-Verlag, Cologne 2008, ISBN 978-3-89438-396-1 , p. 140 f .
  4. ↑ [3]  ( page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. Budget Report: HR 5140: Economic Stimulus Act of 2008@1@ 2Template: Dead Link / www.govtrack.us  

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