BAUCUS' ECONOMIC RECOVERY PLAN CLEARS SENATE PANEL
Senator's Plan To Create Jobs, Cut Taxes Advances
January 27, 2009
(Washington D.C.) – Montana’s senior U.S. Senator Max Baucus’ plan to get Montana’s and America’s economy moving again passed the Senate Finance Committee today.
Baucus’ measures- part of the American Recovery and Reinvestment Act of 2009- include $455 billion in tax cuts and investments that will help create good paying jobs in Montana. Baucus’ legislation will boost investment in industries important to Big Sky Country including alternative energy, timber, water development, health care technology and rural highways. Baucus’ measures will provide relief for Montana’s working families and businesses.
As chairman of the powerful Senate Finance Committee, Baucus is playing a key role in crafting legislation to help the nation’s economy recover. Currently, the Senate Finance Committee controls more than 55% of the Economic Recovery legislation funding. The Senate Finance Committee has jurisdiction over funding and tax measures in the American Recovery and Reinvestment Act.
In addition to $275 billion in job creation and industry investment measures, Baucus’ plan contains approximately $180 billion to help Montanans and Americans who have lost their jobs to keep their health care coverage and find new good-paying jobs.
“The nation asks for action, and action now,” Baucus told committee members while introducing his economic recover plan. “Let’s act quickly to put our economy back on track. Let’s act to restore our nation’s financial health.”
Baucus’ plan includes:
•About $30 billion nationally in tax cuts and incentives to create alternative energy jobs- from wind and solar to energy efficiency
•Tax provisions to finance and create jobs in school construction, highways and building projects
•An additional $170 million for Medicaid funding in Montana
•Investments to help with COBRA health coverage for those who have lost their jobs and to reduce health care costs through health information technology
•A tax cut to put more cash in Montana’s workers’ pockets through their regular paychecks
•Tax cuts for parents through increases in the child tax credit and the earned income tax credit
•Tax cuts to help families afford homes and college educations One-time payments to put more cash in the pockets of veterans receiving benefits from the Department of Veterans Affairs, and beneficiaries of Social Security, Supplemental Security Income, and Railroad Retirement
•An extension of Trade Adjustment Assistance for out-of-work Montanans in the timber and other industries
•Additional unemployment insurance, Temporary Assistance to Needy Families, and enhanced child support enforcement to help family finances
•Tax provisions to finance and create jobs in school construction
In addition to Baucus’ Senate Finance Committee package, more economic recovery measures are being considered today by a separate panel- the Senate Appropriations Committee. Appropriators are considering a $366 billion plan that will also include measures to boost Montana’s economy and create good paying jobs in Big Sky Country. The Senate Appropriations committee plan is expected to be merged with Baucus’ package.
While there are no specific projects or “earmarks’ named in the appropriations plan, many projects and industries in Montana will benefit from funding used to:
· Repair and renovate existing Department of Agriculture buildings
· Fund ongoing construction of large rural drinking water projects
· Boost education funding for local school districts, including special education and school modernization and repair
· Invest in tribal schools, roads and the Indian Health Service
· Improve highway safety and efficiency
· Boost JAG drug task force programs
· Aid the Forest Service in wildland fire management
· Fund ongoing environmental cleanups
In addition to Baucus’ position as chairman of the Senate Finance Committee, Montana U.S. Senator Jon Tester has recently been appointed the Senate Appropriations Committee. In these positions, Baucus and Tester are working together to ensure the American Recovery and Reinvestment Act of 2009 is right for Montana.
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