Economic Stimulus Act of 2008

Definition from Nolo’s Plain-English Law Dictionary

A federal law that attempted to avoid or mitigate an economic recession. The Act authorized federal payments of $300 to $1,200 to approximately 130 million American individuals and families. In addition, households received $300 for each qualifying child under the child tax credit. The law also included tax cuts to help the auto industry and to encourage spending by businesses.

Definition provided by Nolo’s Plain-English Law Dictionary.