WASHINGTON, D.C. – The U.S. House of Representatives took a vital first step toward jumpstarting the economy today by approving a comprehensive economic recovery package that will create and save up to four million new jobs and strengthen America’s long-term economy.
The American Recovery and Reinvestment Act, H.R. 1, passed the House by a vote of 244 to 188. Historic investments in education are one of the bill’s top priorities, part of an effort to stave off layoffs of teachers and other education-related jobs and create hundreds of thousands of new jobs while also improving public schools and making college more affordable. In addition, the bill makes dramatic investments to create public and private sector jobs in transportation, renewable energy, hi-technology and other fields to lift the country out of the worst economic crisis since the Great Depression.
U.S. Rep. George Miller (D-CA), the chairman of the House Education and Labor Committee, today said that these and other investments in training and support for workers are key to addressing the crisis and creating a 21st Century workforce to sustain the economic recovery.
“We cannot let our whole education system collapse as the economy falters,” Miller said. “Together, these investments will meet the most urgent challenges we face: creating new jobs that can’t get shipped overseas, and mitigating strained state and local budgets. We must make sure that students aren’t the latest victims of the economic crisis. With massive layoffs announced almost every day, American workers and families can’t afford to wait for this relief.”
Earlier this week, major U.S. companies announced layoffs of at least 70,000 jobs, adding to the more than 2.6 million jobs the economy has already lost over the past year. Economists from across the political spectrum have urged Congress to act quickly on a recovery package that creates jobs, helps states backfill budget gaps in order to maintain essential services, and spurs long-term economic development.
Earlier this week, major U.S. companies announced another 70,000 job cuts, adding to the more than 2.6 million jobs the economy shed in 2008. Economists from across the political spectrum have urged Congress to act quickly on a bold recovery package that creates jobs, helps states backfill budget gaps in order to maintain essential services, and spurs long-term economic development.
Economists predict the American Recovery and Reinvestment Act will save or create up to 4 million jobs – more than 90 percent of which will be created in the private sector – over a two year period and will strengthen the nation’s competitiveness.
In the education and workforce areas, the legislation will:
As the number of laid off workers rises, so does the number of Americans without health insurance. This legislation will help both recently laid-off workers and older workers and tenured workers stay covered by expanding access to affordable health care coverage. Workers who recently lost their job would be eligible to receive a 65 percent subsidy towards their COBRA premium for up to 12 months. According to the Congressional Budget Office, this package will help over 8.5 million people keep health care coverage for themselves and their families.
For more information on these and other provisions included in the American Recovery and Reinvestment Act, click here.
U.S. Rep. George Miller (D-CA), the chairman of the House Education and Labor Committee, today said that these and other investments in training and support for workers are key to addressing the crisis and creating a 21st Century workforce to sustain the economic recovery.
“We cannot let our whole education system collapse as the economy falters,” Miller said. “Together, these investments will meet the most urgent challenges we face: creating new jobs that can’t get shipped overseas, and mitigating strained state and local budgets. We must make sure that students aren’t the latest victims of the economic crisis. With massive layoffs announced almost every day, American workers and families can’t afford to wait for this relief.”
Earlier this week, major U.S. companies announced layoffs of at least 70,000 jobs, adding to the more than 2.6 million jobs the economy has already lost over the past year. Economists from across the political spectrum have urged Congress to act quickly on a recovery package that creates jobs, helps states backfill budget gaps in order to maintain essential services, and spurs long-term economic development.
Earlier this week, major U.S. companies announced another 70,000 job cuts, adding to the more than 2.6 million jobs the economy shed in 2008. Economists from across the political spectrum have urged Congress to act quickly on a bold recovery package that creates jobs, helps states backfill budget gaps in order to maintain essential services, and spurs long-term economic development.
Economists predict the American Recovery and Reinvestment Act will save or create up to 4 million jobs – more than 90 percent of which will be created in the private sector – over a two year period and will strengthen the nation’s competitiveness.
In the education and workforce areas, the legislation will:
- Invest $20 billion to modernize, renovate, and improve the energy-efficiency of public schools and university buildings. Experts estimate this investment will create at least 200,000 new jobs in construction and other related industries and help to sharpen America’s technological edge.
- Establish a $79 billion state stabilization fund to help states prevent layoffs of teachers, classroom aides, school meal providers, and other jobs in jeopardy by stabilizing funding for early education programs, schools, and colleges. Recent news reports show many public colleges and universities are planning steep increases in tuition as states cut support.
- Increase the Pell Grant scholarship by $500 for the next school year to provide urgent relief for students and families struggling to pay for college – a boost that will benefit up to seven million students.
- Create a new $2,500 tuition tax credit to help an additional four million students’ families pay for college.
- Invest $4 billion in job training to help prepare laid-off, adult, and younger workers prepare for jobs in emerging industries including green jobs.
As the number of laid off workers rises, so does the number of Americans without health insurance. This legislation will help both recently laid-off workers and older workers and tenured workers stay covered by expanding access to affordable health care coverage. Workers who recently lost their job would be eligible to receive a 65 percent subsidy towards their COBRA premium for up to 12 months. According to the Congressional Budget Office, this package will help over 8.5 million people keep health care coverage for themselves and their families.
For more information on these and other provisions included in the American Recovery and Reinvestment Act, click here.
# # #
