LBP has released a new report, “Federal Stimulus Dollars for Louisiana“,which briefly describes the most significant spending and tax provisions affecting low- and moderate-income citizens and provide current estimates of what Louisiana expects to receive.

The American Recovery and Reinvestment Act of 2009 (ARRA) became law on February 17, 2009.  Created to stimulate employment and economic growth throughout the country, the ARRA totals approximately $787 billion, including 37% in tax cuts, 18% toward state and local fiscal relief, and the remaining 45% for social and spending programs such as expansion of food stamps, and highway and housing construction. The state fiscal relief funds are intended to reduce the severity of budget cuts and preserve essential state and local services while the tax cuts and spending programs aim to stimulate the economy by bolstering consumption by individuals and businesses.