Budget

The fiscal year budget reflects the funding priorities of our nation. President Obama’s FY 10 Budget addresses the many challenges facing Brooklyn and our nation. It puts us on a path toward resolving our current financial crisis, lowers taxes on the middle class by $1.5 trillion and cuts our federal deficit by two-thirds by 2013. This budget takes the proactive step of addressing issues such as joblessness, generational poverty and preparing today’s youth for the innovative jobs of tomorrow.

New York City has been hard hit by the financial crisis; the loss of thousands of jobs in the financial and housing sector created a ripple-effect throughout every sector of our economy. This unprecedented economic decline has led to a large increase in the need for unemployment assistance. President Obama’s budget streamlines the Unemployment Insurance Program to make it more accessible to unemployed workers. This prevents further hardship, such as home foreclosure, and gives recently unemployed individuals’ much needed stability as they learn new skills and seek to re-enter the job market.

Research has long correlated quality early-childhood education and nutrition with scholastic and long-term achievement. To ensure that our students are given the greatest opportunity to succeed in school and in life, President Obama’s budget increases childhood nutrition funding by $1 billion annually and increases funding for early-childhood education. Healthy schools and healthy students will lead to healthy and successful communities. To further the cause of successful communities, I testified before the Budget Committee in support of funding for the Community Development Block Grant Program. This program helps to ensure affordable housing and encourages businesses to stay in our communities, creating jobs and fostering continued education after students leave grade-schools.

Other key provisions in the budget that I strongly support include:

• Expanding the Prisoner Re-Entry Program which, along with the Second Chance Act, will provide job training, drug treatment and other assistance to those who desire to re-enter society as contributing members. 
   
• Raising Pell Grant maximums to $5500, ensuring that those who achieve scholastic success will not be denied the opportunity of higher education 
   
• Reducing our dependence on foreign oil by investing in alternative sources of energy. This environmentally-friendly approach will also help create well-paying jobs while investing in our long-term energy independence. 
   
• Reforming healthcare by bringing down the costs and expanding coverage; creating a $630 billion fund over the next 10 years for this purpose.