Eshoo Votes to Create Jobs and Jumpstart American Economy
Rep. Anna G. Eshoo (D - Palo Alto) voted today for the American Recovery and Reinvestment Act of 2009, legislation which will create and save 3 to 4 million jobs and jumpstart the American economy with a $550 billion investment in targeted priorities and $275 billion in economic recovery tax cuts.
"Credit markets are frozen, consumer purchasing power is in decline, and in the last four months we've lost nearly 2 million jobs, with another 3 to 5 million likely to disappear in the coming months. This bill is the first crucial step in a concerted effort to rebuild the American economy, making us more globally competitive and energy independent, and transforming our economy for long-term growth," said Eshoo.
The bill passed by the House today will create jobs and grow the economy by doubling renewable energy production, rebuilding crumbling roads, bridges, and schools, building 21st Century classrooms to help our children and workers succeed in a global economy, and investing in research and development to secure America's role as a world leader in a competitive global economy. The bill will also protect vital services, such as law enforcement, education, and healthcare.
"This legislation does more than create jobs and stimulate the economy. It invests $6 billion in broadband grants to elevate us from 16th in the world in broadband quality, behind countries like Slovenia, Latvia, and Denmark," said Eshoo. "It invests $20 billion in Health Information Technology (HIT) to enhance patient safety, reduce medical errors, improve the quality of care, and importantly, reduce healthcare costs. The bill puts us on a path toward energy independence by making critical investments in the implementation of Smart Grid projects and promoting renewable energy research."
California is projected to receive over $32 billion in economic recovery funding under the American Recovery and Reinvestment Act. Nearly $8 billion of this would go to the State Fiscal Stabilization Fund and more than $11 billion would go to increased Medi-Cal assistance for low-income families.