"In response to high unemployment, some members of Congress have proposed fiscal stimulus or job creation legislation. This follows several policy steps taken since the economy entered a recession in December 2007, including stimulus bills in 2008 (P.L. [Public Law] 110-185) and 2009 (P.L. 111-5), an unprecedented expansion in direct assistance to the financial sector by the Federal Reserve, the creation of the Troubled Asset Relief Program (TARP; P.L. 110-343), and a two year extension of the 2001 and 2003 (popularly referred to as 'Bush') tax cuts (P.L. 111-312). In addition, several temporary extensions of emergency unemployment benefits have been signed into law since 2008. This report discusses the current unemployment outlook, gives an overview of the policy steps taken to date, and analyzes policy proposals likely to be before the 112th Congress to address the issue and options for financing proposals."
CRS Report for Congress, R41578
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