February 13, 2009

Washington, D.C. – Today, Congressman Jerry McNerney (CA-11) voted in favor of H.R. 1, the American Recovery and Reinvestment Act, which will help create or save 3-4 million jobs nationwide. The bill passed the House by a vote of 246-183. 

“There is no doubt that we’ve been hit hard by the tough economy,” said Rep. McNerney.  “I hear from people who are worried about being laid off or losing their home to foreclosure.  The economic recovery package is about getting people back to work.  It will help stimulate the economy and create jobs by investing in education and transportation projects as well as providing tax relief to middle-class families.” 

“The economic recovery package should help create or save 396,000 jobs in California and almost 9,000 jobs in my district,” Rep. McNerney continued.  “California’s families need these jobs.”

Included in the legislation is a tax cut package that is one of the biggest in American history.  The bill will provide a refundable tax credit of up to $400 per individual and up to $800 per couple filing jointly.  It also expands the child tax credit for the families of millions of children.

The legislation also includes a three year extension of the Production Tax Credit for wind energy through 2012, as well as energy generated using biomass, geothermal, hydropower, landfill gas, and marine facilities through 2013.  A multi-year extension of the Production Tax Credit has been a priority of Rep. McNerney’s and will help create thousands of new green energy jobs.

“I know it will take time to turn this economy around, but I am confident that this is a step in the right direction,” Rep. McNerney said.

The Senate is expected to affirm today’s vote in the House and then the recovery package will be sent to President Obama for his signature.