Mayor Mike McGinn recently announced the launch of a new City Web site to track how federal stimulus money are used in Seattle. The Web site, recovery.seattle.gov, shows how the city is using money from the American Recovery and Reinvestment Act (ARRA) in seven investment areas: economic development, community development, social services, public safety, environment, energy, and transportation. So far, Seattle has received about $107 million through ARRA. Stimulus dollars directly benefit local businesses and nonprofits throughout the entire city.
On February 17, 2009, President Obama signed the American Recovery and Reinvestment Act into law as a direct response to the nation’s deepening economic crisis. The Recovery Act represents a $787 billion funding package that includes direct funding, tax cuts and tax benefits. The Recovery Act has three immediate goals:
- Create new jobs and save existing ones
- Spur economic activity and invest in long-term growth
- Foster unprecedented levels of accountability and transparency in government spending