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American Recovery and Reinvestment Act Impact on Colorado

Following heated debate in the House and Senate, a compromise version of the American Recovery and Reinvestment Act, popularly known as the Economic Stimulus Package, was been approved by Congress and signed by President Obama in Denver on Tuesday February 17, 2009. The measure passed the House by a vote of 246-183, and the Senate by a vote of 60-38. In each house, the package passed on a party line vote, with no Republicans voting in support of the Recovery and Reinvestment Act in the House and only the three moderate Republicans (Senators Collins (ME), Snowe (ME) and Spector (PA) who were involved in the compromise negotiations voting for the bill in the Senate.

Preliminary calculations show that Colorado stands to benefit with more than $2.9 Billion in direct spending assistance, most of which will take place over the next two years. These funds will help close the current $631.9 Million budget shortfall as of the second quarter of the current 2009 fiscal year and the projected 2010 deficit.

Released March 19, 2009

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