Copy of About the American Recovery and Reinvestment Act of 2009
The American Recovery and Reinvestment Act of 2009 (ARRA) was signed into law by President Barack Obama on Feb. 17, 2009. The act has five major objectives:
- Preserve and create jobs and promote economic recovery
- Help those most affected by the recession
- Provide needed investments to improve economic efficiency through technology, science and health care
- Invest in transportation, environmental protection, and infrastructure for long-term economic benefit
- Stabilize state and local government budgets in order to preserve essential services and reduce the need for state and local tax increases
Of the $787 billion in total ARRA funding provided nationally, approximately $135 billion is being made available to state and local governments throughout the U.S. via competitive/discretionary or formula grants.
Of this $135 billion federal allotment, Nevada’s portion is $2.2 billion. A federal formula was used to determine this amount. Nevada state government will, in turn, provide potential funding for communities throughout the state. In addition, eligible Nevada communities will be able to apply for other competitive federal grant funds.