Stimulus law - Schenck, Price, Smith & King, LLP | Attorneys at Law, Morristown, New Jersey

INFORMATION ON THE FEDERAL STIMULUS LAW

The new federal stimulus law, known as the American Recovery and Reinvestment Act of 2009 (the “Federal Stimulus Law”), represents approximately $787 billion in federal government spending and tax relief. The Federal Stimulus Law was enacted with the intention of quickly infusing a significant amount of capital into the U.S. economy. In fact, the funds made available under the Federal Stimulus Law are to be fully distributed by September 30, 2010. With so much money being spent so quickly, entrepreneurial businesses must be fully prepared to take advantage of and benefit from this significant economic opportunity. In sum, the Federal Stimulus Law is broad-reaching and is sure to have a significant impact on businesses in terms of both economic opportunity and legal compliance.

Schenck, Price, Smith & King, LLP endeavors to keep our clients aware and up to date on issues that may affect them. The following articles are intended to provide you with information about what’s included in the Federal Stimulus Law and how it may affect your business:

Contracting with Government Entities by James Eric Andrews and Daniel O. Carroll — The Federal Stimulus Law is making billions of dollars available through government contracting. This article provides an overview of relevant basic consideration and useful information about contracting with federal and New Jersey state government agencies.

The HITECH Act. • by M. Sheilah O'Halloran — The Federal Stimulus Law includes billions of dollars for development of health information technology, including financial incentives to providers to use health information technology.

Stimulus Bill’s Effect on SBA Programs. • by Thomas L. Hofstetter — In an effort to unfreeze credit markets, the Federal Stimulus Law includes provisions related to Small Business Administration (“SBA”) programs that reduce loan fees, raise guarantees, establish new SBA programs and create secondary market incentives.

Tax Incentives. by Douglas R. Eisenberg — In an effort to stimulate the economy, the Federal Stimulus Law contains a variety of initiatives available for businesses and individual taxpayers.