House Passes President Obama’s Plan to Create Jobs and Boost the Economy 244-188

Washington, D.C.--Congressman Eliot Engel (D-NY) today supported the American Recovery and Reinvestment Act (H.R. 1) designed to create and save three to four million American jobs. The full House of Representatives passed the legislation which was developed with the Obama Administration. This job creation package will rebuild America, making us more globally competitive and energy independent, provide tax cuts to 95 percent of American workers, and transform our economy for long-term growth.

“The House acted today on President Obama’s call to get the economy back on track. We needed to act immediately. We needed to be bold and innovative and I believe that this plan takes the drastic steps necessary at this critical moment in our history,” said Rep. Engel. “This package will create jobs to employ the millions that lost their jobs during the Bush years. It will lay the foundation for long-term economic health through clean energy, health care modernization, innovation and strict accountability. Desperate times sometimes produce great opportunities and this legislation takes advantage of those opportunities.”

“America is facing an economic crisis greater than any since the Great Depression, with a staggering 2.6 million American jobs lost in the last year and an unemployment rate here in New York that has climbed to seven percent,” said Rep. Engel. “For the first time since 1976 each of the 50 states and the District of Columbia has reported an increase in the percentage of joblessness. FDR’s New Deal helped overcome the Great Depression and this legislation will hopefully reverse the path taken by the Bush Administration.”

Rep. Engel added, “New York is facing its own financial crisis with a $ 15.4 billion state budget deficit. This package provides New York with vital federal aid through the Medicaid program and will thereby prevent millions of low-income New Yorkers from losing their health coverage. I worked successfully to increase these funds. New York and the 38 other states facing deficits need help to fill its budget gaps and help is on the way.”

This jobs and economic recovery plan targets investments in:

* Transforming Our Economy With Clean, Efficient, American Energy and Innovation and Technology that will create more than 1 million jobs;
* Lowering Health Care Costs by funding aggressive adoption of health information technology, which will create hundreds of thousands of jobs, and Broadening Coverage by helping those who cannot afford health care in these tough times.;
* Modernizing Roads, Bridges, Transit and Waterways to create 1.5 million American jobs;
* Education for the 21st Century, including an increased Pell Grant for 461,816 students here in New York and a higher education tax credit for an additional 295,000 families in our state so that students can stay in college despite these tough times;
* Tax Cuts of up to $1,000 to Make Work Pay for 6.7 million taxpayers here in New York and more than $20 billion for American businesses, large and small, to spur job creation;
* Helping Workers Hurt by the Economy, including saving or creating over 390,000 jobs in New York State by 2010. New York currently has over 670,000 people out of work at a seven percent unemployment rate;
* Saving the Jobs of Teachers and Police Officers.
* Development of advanced vehicle batteries and battery systems so that America can lead the world in transforming the way automobiles are powered.
* Build out broadband to unserved and underserved areas. Every dollar that is invested in broadband services, the economy sees a tenfold return on that investment

“We know it will take time to turn this economy around, but I am confident this package will make our economy stronger than it would be without any action,” said Rep. Engel. “Now is not the time for hand-wringing or for continuing the failed policies of the last eight years. Now is the time to join with our President and take the necessary steps to bring our nation out of this economic crisis.”