WASHINGTON – Congressman Rangel praised President Obama's signing of H.R. 1586, a bill that includes measure to appropriate nearly $40 million and save 542 teacher jobs in his Upper Manhattan district. The state of New York will receive $608 million that will prevent 8,200 teacher layoffs in the upcoming school year, 2010-2011.
"The enactment of this law comes at such a critical time, when our country can neither afford to suffer additional job losses nor undercut the quality of education for the schoolchildren. With the help from the federal government, states and districts will be able to avoid serious losses," Congressman Rangel said.
A total of $10 billion has been allocated to an Education Jobs Fund, which will save 160,000 educator jobs nationwide. Another $16 billion will extend for 6 months increased Medicaid payments to the states - freeing up money to keep more than 150,000 police officers and other public workers on the state payroll.
The aid for the states is to be completely paid for, in part by closing tax loopholes that encourage corporations to ship American jobs overseas. This is estimated to cut the federal deficit by $1.4 billion over 10 years.
"I'm happy I joined my colleagues to vote on this very important legislation that provides the necessary funds before children return to classrooms. Ultimately we are making invaluable investments on the future of our nation, not to mention the impact of creating manufacturing jobs in America," commented Rangel.
Speaker Pelosi called the members to return to Washington, D.C., for a special one-day session on Tuesday, to vote on the Senate-passed emergency jobs bill.
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