On February 17, 2009 President Barack Obama signed the American Recovery and Reinvestment Act (ARRA) into law. The purpose of this stimulus bill was said to be a way to create and save jobs, rejuvenate our transportation systems, and help out the economy in a time of need. The White House reports that the total of the bill is $789.5 billion dollars in spending and tax cuts.
Virginia has received an estimated $4.9/4.8 billion from the stimulus bill. The majority of the funding has already been distributed through the federal formulas and rules. (To find out more on how this money was dispersed, please refer to my blog posting on the summary of the stimulus bill.) This stimulus package was sold to the public as a way to reinvest in our infrastructure and create jobs during this difficult economic situation. However, only 16 percent of the ARRA money was spent on roads and infrastructure, while the majority is being spent on Welfare programs and ongoing government spending.
To find out more information, log onto the Commonwealth’s stimulus website.