Three ways in which the Coronavirus Stimulus Package differs from the 2009 Stimulus Package.

Expert Solution

Coronavirus Stimulus Package

It is a package that was signed by President Trump after the continuous onslaught of Coronavirus. It is called Coronavirus Aid, Relief, and Economic Security Act (CARES) Act that stands at a price tag of $2 trillion.

It is one of the biggest relief packages in the US that provides emergency financial assistance to all those people and businesses who are suffering from the irregular market condition and staggering economy of the nation due to Coronavirus.

2009 Stimulus Package

It is a package that was passed by the Obama government in 2009 as an American Recovery and Reinvestment Act of 2009 (ARRA) and had the approximate costs of $787 billion.

This act was passed into law to reduce the effect of the Great Recession that took place in the US in the early 2010s.

The objective of this act was to increase the employment rate in the US. Through this package, efforts were made to save existing jobs and create new ones. To provide relief to the areas that have been impacted in the worse way during this recession period.

Rahul Sunny answered 7 months ago

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