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Policy (Economic Stimulus Act) From UiTM KBM Students :D
1. Case Study
Policy Adoption:
The Economic Stimulus Acts
Presented By:
Nur Fatin Fatihah Binti Ahmad Ruzi
Zarindatul Arizah Binti Zahari
2. The Economic Stimulus Act
Case Review:
The economic condition in 2007 and
early 2008 were deteriorating . Rising
unemployment, wavering stock market,
losses in financial companies and
turmoil housing industry in 2007 and
early 2008.
Later in mid-January President
Bush put economic stimulus
legislation on national policy
agenda, put $145 billion tax
relief for individuals and
businesses
3. House speaker Nancy Pelosi, Republican Leader John Boehner and Treasury
Secretary Henry Paulson met the president to negotiates and make a deal
that provides:
*Tax rebates workers who earned at least $3000 in 2007 will receive $300
($600 for married couples)
*For those who paid income taxes in 2007 will receive $600 for individual and
$1200 for couples
*Families in either category would get an additional payment of $300 per child.
And this tax cuts were provided for business to encourage investment and
limits on home mortgages were INCREASED
ESTIMATED COST : $150 billion
The package was sent to House Floor and
passed but Bipartisan don’t agree with it
4. Because bipartisan don’t agree with it then The Senate
Finance Committee add a number of provisions to the house
bill
• Rebates for social security recipients and disable veterans,
• home energy subsidies for low income families,
• tax credit for alternative energy development
• and extension of unemployment benefits.
- But al of this increase the cost of senate bill
But the Republican objected it and this provision failed because
of one shot vote was required in the House Bill.
But tax rebates to social security recipients and disable veterans
group were added
5. The amended bill then cleared and was signed into law
by President George W. Bush
In the end The Economic Stimulus Act cost $152 Billon in 2008 and
another $16 Billion in 2009. The Americans get :
-Tax rebates workers who earned at least $3000 in 2007 will receive
$300 ($600 for married couples)
-For those who paid income taxes in 2007 will receive $600 for
individual and $1200 for couples
-tax rebates to social security recipients and disable veterans group.
-Tax breaks for business
-Temporary increase in mortgage limits for the Federal Housing
Administration
-Ban on benefit to illegal immigrants.
And this tax cuts were provided the individual business to
encourage investment
6. AVAILABLE RESOURCES
• The president does not have the resources to do everything he want to do,
whether by money, personnel, patronage, time or credibility.
• In The Economic Stimulus Act President Bush put economic stimulus
legislation on the policy agenda, calling for $145 billion tax relief for
individual and business.
• In the end The Economic Stimulus Act cost $152 Billon in 2008 and another
$16 Billion in 2009. And because of this tax cuts were provided by the
government the individual and business can invest more
7. TIME
• Timing and the need to act is very crucial.
• The Economic Stimulus Act is in 2008 it is to recover the rising
unemployment, wavering stock market, losses financial companies and
turmoil housing industry in 2007 and early 2008.
• As a result the Economic Stimulus Act in 2008 is ‘timely, targeted and
temporary.
8. PERMISSIBILITY
The actions of the
government to
achieve economic goals
are enacted through
legislation.
Eg.:
Expected to act in Country faced
conformity with the recession, the
Constitution, Statues, government can take
and Court Decisions. action by introducing
economic stimulus bills.
LEGALITY
9. PERMISSIBILITY
Acceptance by the
congress, officials,
and the publics.
Economic stimulus
The economic ACCEPTABILITY packages can also
stimulus legislation benefit elected officials
used to assist the since they can be seen
poor, small as working for the
businesses, and benefit of citizens by
those affected by infusing cash into the
disaster. economy.
10. PREVIOUS COMMITMENTS
The burden faced by the
public to pay taxes and also
This factor can shape the
debt lead to president take
decision of the president.
the action to impose the
Economic Stimulus Act.
11. AVAILABLE INFORMATION
National Bureau of Economic Research
(NBER) determined that recession had
begun in December 2007.
Recession is an emergency situation
that influence the decision made by the
president.
That’s why economic stimulus was put
on the national policy agenda.
12. CONCLUSION
Available
Time Permissibility
Resources
Previous Available
Commitment Information
13. REFERENCES
1. Public Policy Making 7th Edition by James E.Anderson.
2. Mortgage Crisis: How has the federal government responded?
retrieved from http://www.taxpolicycenter.org/briefing-book/state-
local/mortgage-crisis/federal.cfm
3. Overview of Economic Stimulus Programs retrieved from
http://connection.ebscohost.com/businessfinances/economic-
stimulus-package/overview-economic-stimulus-programs
4. Interpreting the Economic Stimulus Act: How To Be Sure You
Receive ALL of Your Refund retrieved from
http://www.foxrothschild.com/newspubs/newspubsArticle.aspx?id
=11700
5. Did the 2008 Tax Rebates Stimulate Spending? retrieved from
http://www.nber.org/digest/mar09/w14753.html