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On February 17, 2009, President Barack Obama signed into law the American Recovery and Reinvestment Act (Recovery Act) of 2009. The $787 billion federal economic stimulus contains a combination of spending programs and tax credits; consisting of nearly $355 billion for transportation infrastructure, health care programs, education, housing assistance, and energy efficiency projects; $144 billion in state and local fiscal relief; and $288 billion in personal and business tax credits. The main goal of the stimulus bill is to save and/or create more than 3.5 million jobs over the next two years and requires unprecedented levels of transparency, oversight, and accountability. |