U.S. House Passes Jobs Bill

December 16, 2009, WASHINGTON, D.C. – Today, the U.S. House of Representatives passed legislation to create jobs and help families and small businesses in Tennessee and across the country.  The bill will also ensure that state and local governments have the necessary capital to fund infrastructure projects, as well as preserve and create public service jobs.

“This bill makes the targeted investments our country needs right now to put our economy back on sound footing and help it continue to grow,” said Congressman Bart Gordon.  “The American economy grew by about 3 percent from July to September, and the national unemployment fell by a few points in November.  But more needs to be done, and the investments that this bill makes will save and create more jobs.”

The Jobs for Main Street Act (H.R. 2847) will make investments in highway infrastructure and public transportation projects, in addition to making school renovation grants available to state and local governments.  The bill will support employment for nearly 250,000 young adults among whom the unemployment rate is the highest.  It will also provide funding to support job training for approximately 150,000 individuals in emerging sectors, like the solar industry and other clean energy industries. 

“Supporting our growing solar energy industry is especially important for Tennessee’s economy, given Governor Bredesen’s Solar Initiative and the new solar plants coming to Clarksville and Cleveland,” added Gordon.  “The continued support of small businesses included in the bill will also help improve the economic situation facing our country.  Small businesses are the bedrock of Tennessee’s economy.  They employ more than 95% of our state’s private workforce, and helping them grow is essential.”

The bill provides continued funding for programs managed by the U.S. Small Business Administration that have already helped thousands of small businesses weather the current economic climate.  The bill will support SBA loan programs that offer long-term loans for business startups and provide growing businesses with long-term, fixed rate financing for major assets, such as land and buildings.

The Jobs for Main Street Act also extends unemployment benefits and COBRA health insurance for an additional six months.  Having passed the House, the bill now moves to the Senate for consideration.