Statement of U.S. Senator Russ Feingold on the Economic Recovery Package

Statement

Statement of U.S. Senator Russ Feingold on the Economic Recovery Package

U.S. Senator Russ Feingold released the following statement today following his vote in support of the American Recovery and Reinvestment Act, which is expected to create up to 2.4 million jobs in the first year and about nine million jobs in the first three years:

"I am deeply concerned by the deficit spending included in this bill and that was one of the reasons why I opposed the flawed Wall Street bailout. But with unemployment continuing to rise, including the highest levels we've seen for Wisconsin in twenty years, we need to act quickly and responsibly to create jobs and get our economy moving. The economic recovery package is not perfect but it does take important steps to create or save millions of jobs while addressing our country's energy and infrastructure challenges. But given the hefty price tag, Congress must conduct careful oversight to ensure taxpayer dollars are spent as effectively and efficiently as possible."

The American Recovery and Reinvestment Act includes the following to help create jobs and boost our economy:

* A Feingold-authored provision to support green jobs. An amendment to the economic recovery package included language based on Feingold's Community Revitalization Energy Conservation Act, part of his E4 initiative to fuel job creation in Wisconsin, to expand the types of projects eligible for a bond program that helps homes and businesses go green. Wisconsin programs similar to Milwaukee's proposed Me2 program, which creates jobs installing energy efficiency upgrades for homes and businesses, would be eligible for the Qualified Energy Conservation Bond program. Feingold also successfully pushed for a 300 percent increase in the program's bond limit, bringing it to $3.2 billion. The bill also provides $4.2 billion for the Energy Efficiency and Conservation Block Grants program, which states and local governments can use to support similar energy efficiency efforts.

* $537 million in highway funding to repair and improve Wisconsin's roads and bridges.

* $99.8 million to improve Wisconsin's transit infrastructure along with competitively awarded funds of $2.25 billion for passenger rail and $5.5 billion for national infrastructure projects that Wisconsin can compete for to fund projects such as a Milwaukee-Madison or other high speed rail corridors to connect Midwestern cities.

* $107.6 million for Wisconsin's Clean Water State Revolving Fund and $38 million for the Drinking Water State Revolving Fund to create jobs improving Wisconsin's wastewater and drinking water infrastructure.

* $17.7 million for Wisconsin law enforcement through the Byrne Grant program to preserve critical crime-fighting programs and positions and protect communities from the damaging impact of the economic downturn

* $161 million in funding for the supplemental nutrition assistance program, formerly known as food stamps, which experts agree is one of the fastest ways to infuse money into the economy.

* $26.1 million for the Public Housing Capital Fund which will allow public housing authorities to modernize public housing facilities throughout Wisconsin, including making them more energy efficient.

* A "Buy America" provision, long championed by Senator Feingold, requiring all public building and public works projects funded by the stimulus to use American iron and steel and other American-made goods in every possible instance to support American workers.

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