WASHINGTON, DC - Congressman Steny H. Hoyer (MD) joined a majority (246-183) in the House of Representatives to approve final legislation to create and save 3.5 million American jobs, provide a much-needed boost to the economy, and lay the foundation for long-term growth. The American Recovery and Reinvestment Act conference report is expected to receive a vote in the Senate later today and upon passage will be sent to the President's desk for enactment. A comprehensive bill summary is HERE. More information and fact sheets are available HERE. 

Read Hoyer floor statement           

"Marylanders have felt the impact of this economic downturn in lost homes, lost savings and lost jobs contributing to a state unemployment rate that has climbed to its highest level in 15 years," said Rep. Hoyer. "Today, after weeks of debate, and in the depths of an economic crisis that has already claimed more than three and a half million American jobs, we begin our recovery. With final passage of this bill, we start putting Americans back to work with a plan that invests in our nation and our citizens at our time of greatest need and on a scale that equals the size of the problem we are confronted with."

Under the bill, the State of Maryland is expected to receive approximately $3.3 billion to create and preserve 66,000 jobs; make investments in critical, job-creating infrastructure projects, and provide nutrition, unemployment, and healthcare assistance to those families who are being hit hardest by this recession. That includes an estimated $800 million for infrastructure projects; $700 million in fiscal stabilization; $1 billion to invest in education; and $1 billion to preserve Medicaid services.

In addition, the plan provides tax relief and incentives to working families and small business, including an immediate tax cut of up to $800 for two million Marylanders; expansions in the Earned Income Tax Credit and Child Tax Credit; middle-class protection from the AMT; help for first-time homebuyers; and a series of business tax incentives to create jobs and spur investment.

"These measures will provide an immediate jolt to our economy. But a real economic recovery isn't just about responding to a short term emergency-it's about building a wise foundation for the future," stated Hoyer. "Besides creating jobs immediately, we will invest in new energy technologies, fund cutting-edge research, and help our hospitals save money and lives. All of those are investments that promise growth and savings in the years to come, to ensure that our nation does not slip back into recession."

In addition, the Recovery Plan has significant accountability and transparency measures built in: no earmarks or pet projects, strong oversight of spending, and an historic degree of public transparency online at http://www.recovery.gov/, so Members of Congress and citizens can track the success of these efforts. The plan also creates a new Accountability and Transparency Board that will be working to protect funds from waste and fraud.

"We've included in the recovery plan unprecedented levels of accountability and transparency, so our constituents will know that their tax dollars are being spent on getting us out of a recession, not siphoned off by the politically-connected," stated Hoyer. "We know it will take time to turn this economy around, but this package is the bold action required to help strengthen our economy and put people back to work in our State and across America."

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