By Congressman Bart Stupak

Congress will soon send an economic recovery package to President Obama that reinvests in our economy, infrastructure and America’s middle class.

More than 2.6 million Americans lost their jobs last year; 524,000 jobs were lost in December alone and 140,000 additional job losses were reported last week.  The job market looks bleak.  Each of us knows someone who is struggling to find work, to provide for their family and to pay their bills.  In Northern Michigan, we work hard, play by the rules and make every attempt to meet our obligations.  Still, our Northern Michigan timber, mining, tourism and manufacturing industries have been hit hard by the economic crisis, leaving few options outside of federal action to jump-start our economy and put people back to work.

For many months now I have heard from people across Northern Michigan who are frustrated and want action.  They want their government to address their concerns and recognize their struggles in this deepening economic crisis.  We must pull together to rebuild our economic engine and our nation’s future.

To provide the spark our economy needs, the U.S. House of Representatives recently passed, and I supported, the American Recovery and Reinvestment Act (H.R. 1).  This legislation is currently undergoing changes in the U.S. Senate.  The package may have different dollar amounts and programs when it comes back to the House for a final vote, but its commitment to putting people back to work, assisting struggling families and sustaining a full economic recovery will remain intact. 

Of the $819 billion in the House-passed package, H.R. 1 can be broken down into three sections.  The first section creates jobs investing in our infrastructure, roads, bridges and ports.  The second section assists American families by extending and increasing unemployment benefits, food stamps and health insurance coverage.  The final piece of the bill sustains our economic recovery with tax cuts for 95 percent of all Americans, and increased depreciation and projected loss “carry over” provisions for businesses.

The House bill ensures that the billions of dollars to be appropriated for the purchase of raw materials for infrastructure projects are spent here at home to create American jobs.  A “Buy America” provision in the bill requires that construction projects funded through this legislation be built with American steel.  This “Buy America” provision will help our domestic steel industry and, in turn, the Northern Michigan mines that provide the iron ore to produce the steel.

The economic spark provided by this package requires a well-oiled engine for the long road to recovery that lies ahead.  Critical investments in education; hybrid battery technology; cleaner, greener alternative fuels; and America’s electrical grid will create jobs now and in the future.  The 3 to 4 million jobs envisioned in this package will not provide all 11 million unemployed Americans a job today, but it does provide the hope of a brighter future.

The economic struggles facing American families every day were created over a number of years by mismanagement on Wall Street, policies that helped the wealthy at the expense of the middle class, and abuses in corporate America.  Our economic struggles will not be solved in the weeks and months ahead by this economic package alone.  Working with President Obama, we must still address the credit and housing crises and hold government and corporate officials accountable. 

Our economy will begin to rebound once faith and confidence are restored.  It is a new day in America with a brighter future if we work together and assist each other to build a stronger economy, a greater country and a more compassionate people.