the stimulus package proposed by the bush administration in early 2008 relied upon congress' attempted stimulation of business investment.
the stimulus package proposed by the bush administration in early 2008 relied upon congress' attempted stimulation of business investment.
the stimulus package proposed by the bush administration in early 2008 relied upon what type of attempted stimulation of business investment?
congress
the economic stimulus act of 2008 () was an act of congress providing for several kinds of economic stimuli intended to boost the united states economy in 2008 and to avert a recession, or ameliorate economic conditions. the stimulus package was passed by the u.s. house of representatives on january 29, 2008, and in a slightly different version by the u.s. senate on february 7, 2008. the senate version was then approved in the house the same day. it was signed into law on february 13, 2008 by president bush with the support of both democratic and republican lawmakers. the law provides for tax rebates to low- and middle-income u.s. taxpayers, tax incentives to stimulate business investment, and an increase in the limits imposed on mortgages eligible for purchase by government-sponsored enterprises (e.g., fannie mae and freddie mac). the total cost of this bill was projected at $152 billion for 2008.
economic stimulus act of 2008
as governor of massachusetts, romney favored the use of economic stimulus measures, using both federal funding and state funding to help lift the state's sluggish economy. just months into his tenure as governor, in april 2003, while he shied away from any public endorsement of the tax cuts proposed by the bush administration, he argued for federal funds to stimulate the local economy: "i very much support an economic stimulus. ... an economic stimulus is a good thing for massachusetts." that same year, he proposed his own economic stimulus package of tax credits and grants to promote the state's high technology industry, ultimately totaling $100 million when agreed to by the legislature. two years later, in february 2005, he proposed a much larger stimulus package, totaling $600 million, that he said would create 20,000 jobs over 5 years. the most controversial provision would have devoted $37 million to stimulate job creation by paying businesses $30,000 for each new employee hired.
political positions of mitt romney