Congressman José E. Serrano today called the benefits to New York City from the pending Economic Recovery package “helpful” and “timely.”
Serrano is the only New York City member of Congress on the Appropriations Committee, which crafted the House version of the bill. Serrano chairs the House Appropriations Financial Services and General Government Subcommittee, and played a key role in drafting portions of the legislation, which will be considered by the House today and tomorrow.
“The bill that is before the House today would provide New York City with a significant economic shot in the arm, as we face this economic downturn,” said Serrano. “I know that the funding levels provided will boost New York’s education, Medicaid, infrastructure, and housing budgets. This could not come at a more critical time in these areas.
“I am glad to have been part of the delegation here in Washington working to shore up our City’s economy. As a member of the Appropriations Committee, I always feel it is important that I make sure that New York is getting its due share of federal funding.”
Serrano also highlighted some of New York City’s funding estimates that he thought would provide the most impact to the economy.
“New York City will receive $2 billion for Medicaid reimbursement, along with $600 million for public housing capital improvements. Additionally, New York City is slated to receive $777 million to upgrade school facilities and could take in up to $253 million for roads and bridges.”
“These are preliminary numbers, but they are significant,” added Serrano. “They will help New Yorkers suffering in this economic downturn. That is the point of this economic recovery package and I am glad to have played a role in crafting it. ” |