WASHINGTON, D.C. – The U.S. House of Representatives approved legislation today to create urgently needed new jobs for construction workers, teachers, police officers, firefighters and others, and to extend critical assistance for the unemployed and those who have lost health insurance. The Jobs for Main Street Act is the most recent step in Congress’ year-long effort to rescue the economy and stem the crippling impacts of the worst recession in generations.
“Our nation’s economy has made significant progress since earlier this year when more than 600,000 Americans were losing their jobs every month. While we may have stemmed the tide of steep job losses and the Recovery Act is making an undeniable impact, millions of Americans are still looking for a job,” said U.S. Rep. George Miller (D-CA), chairman of the House Education and Labor Committee and one of the lead authors of the bill. “The Jobs for Main Street Act is the right thing to do to continue rebuilding our economy and the just thing to do for the millions of families who urgently need work.”
The legislation uses existing available funds from the Troubled Asset Relief Program (TARP) to pay for targeted investments in infrastructure and emergency aid to state and local governments to hire teachers, police officers and other vital personnel.
Among other provisions, the Jobs for Main Street Act provides:
• $23 billion to save an estimated 250,000 education jobs over the next two years;
• $41
billion to extend for six months expanded unemployment benefits,
including increased payouts and longer duration of benefits;
• $12.3
billion to extend from nine to 15 months the 65 percent COBRA premium
support for individuals who have lost their jobs. In addition, the bill
extends eligibility through June 30, 2010;
• $200 million for AmeriCorps programs and the National Service Trust, to support an additional 25,000 AmeriCorps Members;
• $500 million for summer youth employment programs;
• $300
million to support the College Work Study program, which supports low-
and moderate-income undergraduate and graduate students who work while
attending college; and
• $750 million for competitive grants to
support job training for approximately 150,000 individuals in high
growth and emerging industry sectors, particularly in the health care
and green industries that are adding jobs despite difficult economic
conditions.
For more information on the Jobs for Main Street Act, click here.
Earlier in the day, the House also approved the 2010 Defense Appropriations bill, which included a separate two-month extension of COBRA premium benefits and unemployment insurance.# # #
