Less than six months into law, Economic Stimulus has invested more than $46 million in recovery projects for the community.
The American Recovery and Reinvestment Act has committed $46.6 million to the 15th Congressional District of New York as of the end of May 2009, according to the Office of the Vice President which oversees the implementation of the Recovery Act. Congressman Charles B. Rangel represents the District, which encompasses Upper Manhattan and Harlem.
These funds include tax cuts for families and investments in health, education, safer communities and energy efficiency, in addition to allocations from the following Federal agencies: $6.2 million from Health and Human Services; $3.6 million from Education; $28.8 million from Social Security; and $2.6 million from the Small Business Administration.
The Vice President's Office also reported a list of 35 housing projects in the District that have received Recovery Act funds as of July 7, 2009, totaling more than $30 million for new construction, rehabilitation or low-interest loans for project management. The list of projects is attached.
"In less than 150 days, the Recovery Act, along with other tax and income initiatives, has helped stabilize the economic damage over the past several years that has deeply hurt our community," said Congressman Rangel, who Chairs the House Ways and Means Committee. About a third of the Recovery Act is comprised of tax benefits, most of which were passed in Chairman Rangel's committee.
"I thank the Administration for moving quickly to get these funds out to assist our hard-hit families, businesses, and organizations and strongly request that the remaining stimulus funds are distributed expeditiously so that we do not waste time in turning around the economic well-being of our community," added Congressman Rangel.
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