Recommended Resources
The following websites provide comprehensive information about the economic crisis from government and news sources.
- U.S. Financial Crisis This LibGuide, created by Alissa Black-Dorward (Fordham University School of Law), provides an exhaustive listing of government documents concerning the current economic crisis.
- The Financial Crisis The Federal Reserve Bank of St. Louis has created a thorough and comprehensive website of resources, timelines, publications, and financial data.
- Federal Reserve Bank of St. Louis Resources This is a thorough and comprehensive resource that provides the latest information on U.S. economic performance and other financial information.
- Follow the Money: Bailout Tracker The government is engaged in a far-reaching - and expensive - effort to rescue the economy. Here's how you can keep tabs on the bailouts. CNNMoney.com is tracking developments in the economic rescue as they happen.
USA.Gov Business/Economic News
Current economic news from the permier gateway to US Government information.

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GAO Recovery Related Reports
GAO Reports/Testimony
Current reports from the independant "conrgessional watchdog" agency.

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GAO Legal Decisions/Opinions
Current legal rulings and statements from the "conrgessional watchdog."

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HCOGR Corporate Accountability
Updates on Corporate Accountability investigations in the House Committee On Oversight and Government Reform

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HCOGR Administration Oversight
Updates regarding oversight of the Executive Branch in the House Committee On Oversight and Government Reform

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HCOGR Main Feed
Recent releases from the House Committee On Oversight and Government Reform

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House Committee on Financial Services
Updates from the Committe that oversees the nation's housing and financial services sectors.

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House Committee on Budget-Reports
House Committee on Budget-News
Current press releases from the Committee that oversses the budget process.

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Joint Economic Committee
Made up of members from the House and the Senate, this Committee studies the US economy.

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Credit Card Accountability Responsibility and Disclosure Act of 2009 Legal History
- Credit Card Accountability Responsibility and Disclosure Act of 2009 Full text of the law as passed by the Senate and presented to the House.
- Legislative History of HR 267 Gives text of the bill, CBO estimates, all congressional actions, links to related bills and CRS summaries.
- Vicious Cycle: How Unfair Credit Card Practices are Squeezing Consumers and Undermining the Recovery. Report from the US Congress Joint Economic Committee “Report showing how unfair credit card practices are sending American families further into debt and undermining the economic recovery . . . outlines how the economic downturn and financial crisis have accelerated the adverse impacts of these practices.
- New JEC Report: Credit Card Bill of Rights Will Aid Economic Recovery Press release from the US Congress Joint Economic Committee that summarizes the report Vicious Cycle: How Unfair Credit Card Practices are Squeezing Consumers and Undermining the Recovery.
- House Passes Historic Legislation to Curtail Abusive Credit Card Practices and Protect Consumers. House Committee on Financial Services Press release summarizing the bill the House passed along with full text of that bill and a summary of the Senate amendment.
- Federal Reserve. Proposed Regulations Related to Credit Cards “Proposed rules to prohibit unfair practices regarding credit cards and overdraft services that would, among other provisions, protect consumers from unexpected increases in the rate charged on pre-existing credit card balances.”
Government Gateways
The following sites serve as gateways to federal government documents and information on the US economic and financial crisis.
- Recovery.Gov THE premier site for information on the Recovery. The site explains ARRA; shows how, when and where the recovery money is spent; and provides data that will allow citizens to evaluate the Act’s progress and provide feedback.
- EconomicRecovery.Gov From the Department of Commerce, this site serves as a gateway to information on help for consumers (housing, food, retirement), for workers (job opportunities and unemployment insurance) and help for small businesses and financial institutions.
- Government Documents Resources Exhaustive listing of all government documents relating to current economic and financial crisis. LibGuide created by Alyssa Black-Dorward (Fordham University School of Law).
American Recovery and Reinvestment Act of 2009
Resources on the American Recovery and Reinvestment Act of 2009 including legal history and analysis.
- American Recovery and Reinvestment Act of 2009 The US is in the midst of a serious financial crisis. ARRA "lays out a plan to address the crisis through unemployment and welfare expansions, tax cuts, and investments in infrastructure, healthcare, education and energy."
- ARRA Legislative History Includes full text of the law, links to related bills, lists of cosponsors, congressional actions, amendments and CBO cost estimates.
- CQ House Action Reports:The Economic Stimulus Agreement Feb. 13, 2009. Detailed analysis of the act including: background and summary; tax provisions; transportation and infrastructure; energy and science; education and health; housing and job training; and aid to states, small business and other.
- Full Summary from the Senate Finance, House Ways & Means Committees Summary including tax relief for individuals and families, tax incentives for businesses, manufacturing and economic recovery, infrastructure financing, renewable energy, unemployment assistance, health insurance and state fiscal relief and medicaid.
- Energy & Commerce Provisions on Health Care, Broadband, and Energy Detailed summaries on the health care, broadband and energy provisions of ARRA.
- Conference Report to Accompany H.R. 1 - The American Recovery and Reinvestment Act of 2009 Before an act can be signed by the president, the differing House and Senate versions must be reconciled by a conference committee made up of members from each chamber who will create an identical bill for approval by both chambers.
- Ammendments, Individual Committee Reports and House Resolutions on H.R. 1 – The American Recovery and Reinvestment Act of 2009 From the House Committee on Rules, includes: text and summary of amendments submitted, text of H.R. 1, Energy and Commerce Committee Report, Ways and Means Committee Report, Appropriations Committee Report, and H. Res. 88 and H. Res. 92.
- Detailed comparison of House and Senate versions of the American Recovery and Reinvestment Act of 2009 Comparison of the US Senate and US House of Representatives versions of ARRA.
The Bailout: Emergency Economic Stabilization Act of 2008 (Public Law 110-343, HR 1424)
H.R.1424, also known as The Bailout, is the vehicle for the economic rescue legislation. Division A is the Emergency Economic Stabilization Act of 2008; Division B is the Energy Improvement and Extension Act of 2008; and Division C is the Tax Extenders and Alternative Minimum Tax Relief Act of 2008. These three laws are collectively known as the Emergency Economic Stabilization Act of 2008
- Legislative History for HR 1424 Includes full text of the law, links to related bills, lists of cosponsors, congressional actions, amendments and CBO cost estimates.
- HR 1424: Official Full Text Text of the entire Act, including all three divisions.
- Wikipedia: Public Law 110-343 Provides an overview of the law with link to related Wikipedia entries.
Agency Sites
Many federal agencies have already established their own Recovery Act web pages with information on funding, major actions taken so far, and those actions planned for the near future. More pages will come on line in the near future, so check back often.
- Agency Recovery Sites Comprehensive list of Recovery web pages for government departments and agencies receiving funds from ARRA. These pages are created to meet the President's high expectations for transparency and accountability.
- HUD Information Related to the American Recovery and Reinvestment Act of 2009 (Recovery Act) Links to HUD ARRA programs such as community development grants, homelessness prevention fund, Native American housing grants, rental assistance, tax assistance and neighborhood stability programs. Also includes funding allocations by state and reports.
- Treasury: FinancialStability.Gov, TARP Includes links to information on the following initiatives as part of the Financial Stability Plan: Credit for Small Businesses, Making Home Affordable, Consumer and Business Lending Initiative (TALF), Capital Assistance Program (CAP).
- Securities & Exchange Commission "During the current turmoil in the credit markets, the SEC has worked closely with other regulators in the U.S. and around the world to protect investors and the markets." Includes an overview of SEC Actions During Turmoil in Credit Markets.
- IRS Information Related to the American Recovery and Reinvestment Act of 2009 Highlights of tax-related provisions implemented by the IRS as a result of the passage of the American Recovery and Reinvestment Act of 2009.
- National Information Center
Want to know if your money is safe and your bank is sound? This web site provides access to NIC data, allowing the public to search for detailed information about banking organizations.
IRS Resources
- The “What Ifs” of an Economic Downturn Survival Guide from the IRS that addresses questions concerning unemployment, home mortgages/foreclosures, and debt.
- IRS Information Related to the American Recovery and Reinvestment Act of 2009 Congress has approved and the President has signed new economic recovery legislation, the American Recovery and Reinvestment Act of 2009. The IRS is implementing tax-related provisions of this new program as quickly as possible.
- IRS Offers Free Tax Help
Free tax help is available from the Internal Revenue Service for taxpayers by telephone, in person and via the Internet where information is available 24 hours a day, seven days a week. Please see "More Information" pop-up. - Free File Home - Your Link to Free Federal Online Filing
Free File is the fast, easy, and free way to prepare and e-file your federal taxes online. Available in Spanish. Please see the "More Information" pop-up. - Free Tax Return Preparation For You by Volunteers Puzzled by the tax law or which credits and deductions to take? Need assistance with your tax return? You may want to visit a volunteer site. The IRS Volunteer Income Tax Assistance Program offer free tax help if you qualify.
- Special Tax Break Available for New Car Purchases This Year
- First-Time Homebuyer Credit
- COBRA Health Insurance Continuation Premium Subsidy
- Help for Victims of Ponzi Investment Schemes
GAO: Government Accounting Office
"The Recovery Act assigns GAO a range of responsibilities to help promote accountability and transparency. Some are recurring requirements such as providing bimonthly reviews of the use of funds by selected states and localities. Others include targeted studies in several areas such as small business lending, education, and trade adjustment assistance."
Mississippi will be one of those states reviewed by GAO as part of this overall mission.
- Mar. 5, 2009: American Recovery And Reinvestment Act: GAO’s Role in Helping to Ensure Accountability and Transparency This testimony discusses GAO’s plans to carry out its oversight role related to the American Recovery and Reinvestment Act of 2009 (Recovery Act).
- Following the Money: GAO's Oversight of the Recovery Act "GAO's oversight work on the Recovery Act will be published on this Web site. Please check back regularly for updated information."
- TARP -- Problems in Financial Markets and Housing "This page lists the most recent publications related to problems in the financial markets and housing. It also includes key publications issued since October 1997."
- High-Risk Series--2009 Report Available The series focuses on areas vulnerable to fraud, waste, abuse, and mismanagement, as well as areas in need of broad reform. new areas covering the financial crisis. Includes reports back to 1999.
- Jan. 22, 2009: GAO Adds Three Issues, Drops One Other, On 2009 “High-Risk” List "This update identifies 30 high-risk areas, including new areas covering the financial crisis, medical products, and toxic chemicals."
President's Economic Recovery Advisory Board (PERAB)
PEAB was established by
President Obama with Executive Order
13501 of February 6, 2009 “in order to enhance the strength and competitiveness
of the Nation's economy and the prosperity of the American people by ensuring
the availability of independent, nonpartisan information, analysis, and advice
to the President as he formulates and implements his plans for economic recovery.”
- May 20, 2009: PERAB: First Quarterly Meeting “The focus of the meeting will be on energy and green jobs and the board will provide recommendations on how to enhance the strength and competitiveness of the nation’s economy through the creation of a comprehensive energy plan."
- May 20, 2009: PERAB: First Official memo "A successful, lasting economic recovery should include key energy and climate policies that accelerate innovation, reduce our CO2 emissions and provide energy security. "
- President-elect Barack Obama establishes President’s Economic Recovery Advisory Board White House press release including “Remarks of President-elect Barack Obama Economic Recovery Advisory Board; November 26th, 2008 Chicago, IL.”
- Presidential Executive Order Establishing the President's Economic Recovery Advisory Board Executive Order 13501 of February 6, 2009
- White House blog entry on PERAB Includes “Remarks By The President On The Establishment Of The Economic Recovery Advisory Board; East Room, The White House February 6, 2009.”
- Wikipedia entry on PERAB Includes a brief history of the Board as well as current news items.
House Committees
The following committees of the House of Representatives have an interest in or will be investigating events surrounding the economic crisis and recovery.
- House Committee on Oversight and Government Reform "The Committee on Oversight and Government Reform is the main investigative committee in the U.S. House of Representatives. It has jurisdiction to investigate any federal program and any matter with federal policy implications."
- House Committee on Financial Services
"The Committee oversees all components of the nation’s housing and financial services sectors including banking, insurance, real estate, public and assisted housing, and securities." - House Committee on the Budget This Committee generally oversees the Budget process and evaluates conduct of the Congressional Budget Office.
- House Small Business Committee This Committee serves as the advocate in Congress for small businesses and deals with issues such as loans, credit, capital, tax relief and access to the federal marketplace.
- House Committee on Ways and Means This Committee oversees all taxation, tariffs and other revenue-raising measures, as well as Social Security, Unemployment benefits, Medicare, etc.
- House Committee on Appropriations This Committee is in charge of setting the specific expenditures of money by the government of the United States.
Senate Committees
The following Joint and Senate committees have an interest in or will be investigating events surrounding the economic crisis and recovery.
- Joint Economic Committee
“Its main purpose is to make a continuing study of matters relating to the US economy. The Committee holds hearings, performs research and advises Members of Congress.” - Senate Committee on Banking, Housing & Urban Affairs “Areas of jurisdiction include, but are not limited to: banking, insurance, financial markets, securities, housing, urban development and mass transit, international trade and finance, and economic policy . . . “
- Senate Budget Committee Along with the House Committee on the Budget, it is responsible for drafting Congress' annual budget plan and monitoring action on the budget. It also has jurisdiction over the operation of the Congressional Budget Office (CBO).
- Senate Committee on Finance The Committee deals with matters relating to taxation and other revenue measures, bonded debt of the US, customs, deposit of public monies, revenue sharing, health programs under the Social Security Act, tariffs, etc.
- Senate Committee on Small Business & Entrepreneurship This Committee oversees the Small Business Administration (SBA) and any legislation relating to it.
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