House Passes Recovery and Reinvestment Act

For Immediate Release                                               
Media Contact: Sahar Wali
January 28, 2009                                           
202-225-4813 Office/202-834-6919 Cell                                                                           This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

Washington, DC – Today, U.S. Rep. Earl Blumenauer (D-Ore.) voted to pass the American Economic Recovery and Reinvestment Act or H.R. 1.  In Oregon alone this plan will save or create 52,890 jobs by the end of 2010, thereby reducing Oregon’s unemployment rate by 1.8 percent by 2010.  As a member of the House Ways and Means Committee, Rep. Blumenauer actively participated in shaping this important legislation.

“Our economy is struggling and more vulnerable than it’s been in decades.  Oregon families and business need this assistance more than ever-- and they need it now,” said Rep. Blumenauer.  “This funding will help those who need it most.   It will create jobs for Oregonians; help those who are trying to rebound from a recent lay-off, and make long-term investments in Oregon’s infrastructure, schools, and health care system, laying the foundation for fiscal sustainability in the future. This bill will also provide important tax provisions for emerging Oregon industries, such as wind and other renewable energy and will help Oregon to continue leading the way towards greener economy.”

In response to Republicans attempt to remove vital funding for job creation and tax measures for working Americans with a substitute, Rep. Earl Blumeanauer responded,“These are the same people who told us the Bush tax cuts were going to lead to nirvana . . . I am glad they have come to the floor to present their alternative, because it shows us their priorities: take money away from 95 percent of the American public, and give it to the wealthiest Americans who need it least."

Below are estimates on the amount of funding that formulas and programs within the bill would direct to Oregon:

Type of Funding Amount
State Fiscal Stabilization Fund $747,154,000  
Title I (Education)     $130,618,000  
Individuals with Disabilities Act       $149,451,000  
Education Technology State Grants       $9,121,128    
Education, Modernization, Renovation, and Repair        $209,934,000  
Pell Grant Maximum Award        $279,413,147  
Head Start      $7,240,010    
Child Care and Development Block Grant  $22,510,354   
Employment & Training   $33,013,081   
Community Services Block Grant  $7,973,094    
Low-income Home Energy Assistance       $12,111,452   
Elderly Nutrition Services      $2,743,104    
Preventative Health and Health Services Block Grant     $2,179,063    
Highways and Bridges    $349,351,566  
Transit Capital Grants  $68,309,581   
Fixed Guideway Modernization    $15,128,906   
Clean Water State Revolving Fund        $65,574,135   
Supplemental Security Income    $36,600,000

 Emergency Shelter Grant Program $15,000,00      

Byrne-Jag Grants        $33,285,576      

TOTAL   $2,181,711,197      

*Source: House Appropriations and Transportation and Infrastructure Committees, Center on Budget and Policy Priorities

Oregonians could stand to receive $2 billion from personal tax credits contained in the American Economic Recovery and Reinvestment Act, according to information released by the Center for American Progress.

Type of Personal Tax Measure    Amount
Making Work Pay Tax Cut $1.8 Billion  
Earned Income Tax Credit increase       $50.7 Million 
Child Tax Credit        $153 Million  

Additional details on the bill are below:

Health Care

·       Incentives to encourage the widespread adoption of Health Information Technology (HIT) and establish standards for interoperability and privacy.  The investment in HIT is a critical step toward modernizing American healthcare, cutting red tape, eliminating redundant care and reducing health insurance premiums for millions.

·       Temporary subsidies to help families who have lost their jobs maintain their healthcare coverage through the Consolidated Omnibus Budget Reconciliation Act (COBRA).  This benefit will be of tremendous assistance to families struggling to find new work and maintain economic security during the downturn.

Infrastructure

·       Authorizes $25 billion for investment in infrastructure, job training, education, and economic development within economic recovery zones.

·       Strengthens the bond markets by providing either tax credits or direct subsidies to bond issuers, thus magnifying demand and fueling new infrastructure projects.

·       Provides $9 billion in school construction bonds to build, rehabilitate, or repair American schools.

Energy

·       Invests $13 billion in the production of renewable energy by providing for a long-term extension for production and investment tax credits.

·       Provides a dramatic increase in the value of incentives for small wind power production, which Rep. Blumenauer championed.

·       Extends tax credits for energy-efficient improvements to existing homes through 2010.