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was signed into law by President Obama on February 17th, 2009. It is an unprecedented effort to jumpstart our economy, create or save millions of jobs, and put a down payment on addressing long-neglected challenges so our country can thrive in the 21st century. The Act is an extraordinary response to a crisis unlike any since the Great Depression, and includes measures to modernize our nation's infrastructure, enhance energy independence, expand educational opportunities, preserve and improve affordable health care, provide tax relief, and protect those in greatest need.
Implementing the Recovery Act:
Treasury's Role
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The Department of the Treasury has significant responsibilities related to the Recovery Act. Treasury has nine programs – including several initiatives involving tax changes that will affect almost all Americans, and will deliver an estimated $150 billion of direct relief to Americans and their families. Read more
- Economic Recovery Act Payments
- Community Development Financial Institutions
- New Markets Tax Credit
- Health Insurance Tax Credit Administration
- Energy Grants in Lieu of Tax Credits
- Low Income Housing Grants in Lieu of Tax Credits
- Native American CDFI Assistance
- Tax Provision Oversight
- Tax Relief Programs
Your Treasury Dollars at Work:
Making Progress, Making Headlines
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June 3, 2010
Treasury Releases New Build America Bonds Data
Recovery Act Bonds Program Provides $106 Billion Nationally to Date,
Estimated to Save State and Local Governments Billions Compared to Tax Exempt Bonds
The U.S. Department of the Treasury today released its monthly comprehensive update on Build America Bonds issuances, including state-by-state data, showing $106 billion has been issued through May 31, 2010. Build America Bond issuers benefit from substantial savings in borrowing costs when compared to issuing tax-exempt debt. Read the full release.
Read More.
Department of Treasury Recovery Plans, Recovery Program Reports, and other agency- and program-specific reports required by the Recovery Act will be posted on this site as they become available.
Last Updated:
June 16, 2010
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| Find Out How to Apply For:
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Payments for Specified Energy Property in Lieu of Tax Credits |
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Grants |
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Contracts |
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Low Income Housing Grants in Lieu of Tax Credits |
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| Build America Bonds Program
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Learn more about the program |
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IRS guidance |
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| Bureau Resources |
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Community Development Financial Institutions |
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Financial Management Service (FMS) |
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Internal Revenue Service |
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Public Debt's Recovery Act Page |
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Inspector General |
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TIGTA |
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Lobbyist Disclosure |
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| Reporting Fraud and Waste |
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Relating to IRS Recovery Act fraud, please click here |
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Relating to non-IRS Recovery Act fraud, please click here |
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| NEWS CLIPS |
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June 9, 2010
American Prospect: Building a Better Bond
The most toxic word in politics today is "bailout," and Sen. Chuck Grassley had no qualms about deploying it to describe the Build America Bonds program. According to the senator, it's just one more way to funnel taxpayer money to the banks and to profligate local government. A Washington Post article followed, focusing on fees major banks earned through the program. That's the only article the Post has run on Build America Bonds since its inception over a year ago. This is telling, given that, despite recent criticisms, it is one of the most successful programs of the American Recovery and Reinvestment Act, spurring productive investment, job creation, and creating a more progressive and democratic method of local finance. The idea that this is any kind of bailout is misguided at best. (Read the full article).
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May 17, 2010
The Hill: Treasury hails Build America Bonds a success
The Treasury Department on Thursday showed that nearly $97 billion in Build America Bonds have been issued through Apr. 30, a figure that constitutes 21 percent of municipal bond market. (Read the full article)
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