New York SBDC Research Network

The American Recovery and Reinvestment Act, initially priced at $787 billion and later revised to $831 billion, included $212 billion in tax cuts (mainly through the payroll tax cut), $296 billion in mandatory spending on programs including Medicaid and unemployment benefits, and $279 billion in discretionary spending targeting areas such as aid to individuals to investments in infrastructure, energy, education, and health care. The report says the array of measures is expected to pump $763 billion into the economy by 2019, with most of it being released before the end of fiscal year 2012. Read more from the White House and two popular news sources below. The Economic Impact of the American Recovery and Reinvestment Act 5 Years Later  - A report from the White House Council of Economic Adviser's. The Fifth Anniversary of the American Recovery and Reinvestment Act  - A White House blog post that provides an overview of the above mentioned report. 5 Years After Stimulus, Oba

It has been a few weeks since I've stimulated you with stimulating information about the stimulus, so today is your lucky day. Of course, there is so much new information coming out everyday from the SBA, local and national business publications, and government websites that it would be impossible for me to keep you constantly updated. The information below is what I believe is most valuable to you, the business owner or advisor. As always, please feel free to comment with links to information you would like to share on the stimulus and small businesses. Q&A: New SBA Administrator Karen Mills on the Stimulus Small Business Administration - America's Recovery Capital Loan Program Stimulus gives SBA Loans a Boost Sign Up for Updates from the New York State Recovery Website Interest Groups, Legislators Call for Transparency on Stimulus Money

During staff training this past week, I attended the session titled "How the American Recovery and Reinvestment Act of 2009 will Impact the Small Business Community - IRS Online Small Business Resources." While I learned useful information from Mr. Richard Torres from the IRS and Suzanne Reusch from the New York State Department of Taxation and Finance about tax breaks that are included in the Stimulus Act, I also learned about an extremely useful website for our Spanish-speaking customers. GobiernoUSA.gov "offers up-to-date official information in Spanish on government programs and services at the federal, state, and local levels." The website is the Spanish language version of USA.gov . Both are portals to "all official transactions, services, and information that the U.S. Government has to offer."

Most of the news that I read in the Business Review and other business-oriented periodicals and websites detail the extreme losses that many major companies have experienced in their first quarter for 2009. Luckily, the more time that I spend reading up on the Stimulus Act, the economy, and even the recession, the more hope I have that things will turn around, possible even soon. 2009 Industry Outlook - Challenging Times, Emerging Opportunities (Deloitte) Report: National recession to end by Sept. (Albany Business Review) The 2009 Economic Landscape - How the Recession Is Unfolding across Four U.S. Regions (FDIC)

Following last weeks' topic, this blog will also be dedicated to the Economic Stimulus Package and how the monies will impact small businesses. Below are the links to multiple articles that discuss the American Recovery and Reinvestment Act of 2009 (ARRA) and Small Businesses. Press Release: SBA Applauds Stimulus Bill, Planning Underway For Broadest, Quickest Small Business Impact - This release highlights the SBA's key initiatives that have been impacted by ARRA, including a 90% loan guarantee, deferred payment business sabilization loans, and more. The 2009 American Recovery and Reintestment Act Tax Provisions for Individuals, Businesses, and Other Key Items of Interest - A summary of the major tax provisions that were included in the act, about halfway down the page is a section titled "Tax Provisions Affecting Businesses". BBB Explains Stimulus Package Benefits for Small-Business Owners - A summary provided by the Eastern North Carolina BBB that highlights sev

The American Recovery and Reinvestment Act of 2009 is a 400+ page document that in my opinion would require multiple PhD’s and numerous years to fully understand as an individual. Over the next few months, we at the Research Network will be working on providing our staff and clients, as well as other readers of this blog, with information pertaining to the Stimulus Package (as it is more commonly referred to). While at times this will include government released documents that are difficult to read and extremely long, more often we will try to provide pared down information, especially relating to New York State. Below are a few links to get started. The American Recovery and Reinvestment Act of 2009 New York American Recovery and Reinvestment Handbook From the New York State Senate: American Recovery and Reinvestment Act of 2009 – The Federal Stimulus impact of New York State From the Business and Labor Coalition of New York (BALCONEY): Bulletin on the Impact of the 2009 Stimulus