Today, the President signed the stimulus bill into law. The fiscal stimulus includes $501 billion in increased spending and $286 billion in tax cuts at a total estimated cost of $787 billion. The paper discusses the elements and likely impacts of the stimulus.

The House stimulus bill costs roughly $820 billion over ten years, while the Senate bill costs $838 billion. Most notably, the Senate version includes more tax cuts and fewer spending provisions and would distribute the funds more quickly than the House bill. This paper discusses these and additional differences between the stimulus bills.