| House-Passed Jobs Bill Contains Michaud Advocated Priorities |
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| Tuesday, December 15 2009 | |
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WASHINGTON, DC – Today, the House of Representatives passed H.R. 2847, the “Jobs for Main Street Act,” which redirects Wall Street bailout funds to targeted job creating programs. Michaud wrote a letter to the President and congressional leaders advocating for a number of the investments contained in the bill, including a robust investment in transportation and infrastructure. The Transportation and Infrastructure Committee that Michaud sits on estimates the bill will provide Maine with $129,362,262 for infrastructure investments. The bill also increases the affordability and availability of credit to small businesses through providing strong federal loan guaranties and eliminating Small Business Administration (SBA) lending program fees, another priority that Michaud raised in his letter. “Investing in our infrastructure is a proven way to create jobs and promote long-term economic development,” said Michaud. “But if we are to truly increase employment opportunities we must do more for our small businesses because they are this country’s true job creators. This bill eliminates SBA loan fees and strengthens federal guarantees so that access to capital is more affordable and available. This will help alleviate the effects of the credit crunch so that our small firms can grow and create jobs.” The bill also contained a “Buy American” provision Michaud worked to include, which requires that American-made materials be used for construction, alteration, maintenance or repair of transportation and infrastructure projects funded in the bill. “A bill aimed at creating jobs in America should do just that. The Buy American language in the bill will make sure that the positive economic ripple effects of our infrastructure investments benefit U.S. workers and companies,” said Michaud. For those hardest hit by the recession, the bill includes emergency relief that extends unemployment benefits and health benefits for those out of work. Not only does this help those families in need, but these provisions generate demand for goods and services in the economy as a whole and at small local businesses all across Maine from convenience stores to restuarants. “This recession is really taking a toll on Maine families,” said Michaud. “Moving forward, we must continue to push smart policies that invest in job creation, help those most in most need and address our national debt.”
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