May 25, 2010
The American Recovery and Reinvestment Act of 2009 (ARRA) contains a variety of provisions intended to boost economic activity and employment in the United States. Section 1512(e) of the law requires the Congressional Budget Office (CBO) to comment on the reports filed by certain recipients of funding under ARRA that detail how many jobs were created or retained through funded activities. This CBO report fulfills that requirement. It also provides CBOs estimates of ARRAs overall impact on employment and economic output in the first quarter of calendar year 2010. Those estimates which CBO considers more comprehensive than the recipients reports are based on evidence from similar policies enacted in the past and on the results of various economic models.