Today, Vice President Joe Biden released a quarterly report on the American Recovery and Reinvestment Act (ARRA). Representative Marcia L. Fudge (OH-11) issued the following statement regarding this announcement.
"Ohio has been allocated over $4.5 billion in funding. It is still early in the disbursement process, but things are moving ahead of schedule," said Rep. Fudge.
"Working families are seeing immediate economic relief. Thus far, COBRA health insurance premiums have been reduced by 65% and unemployment benefits have been increased by $25 a week. Many families now have additional income through the Making Work Pay Tax Credit. Social Security recipients have received a one-time $250 payment," Rep. Fudge added.
"Recovery Act dollars are already creating and saving jobs. For example, this funding has allowed members of the Ohio Partners for Affordable Energy to employ a substantial number of people in building weatherization. The Ohio Partners for Affordable Energy have already created jobs for 131 new employees and 73 contractors across Ohio with plans to add 1,250 more jobs next year. Thankfully, many Ohioans are qualified to work on these projects immediately without any additional training," concluded Rep. Fudge.
The Recovery Act will potentially save and create an additional 600,000 jobs within the next 100 days and billions of dollars in contracts and grants are expected to be awarded in the coming months. Vice President Biden's report demonstrates the positive effect of ARRA funds such as the many private sector companies now hiring employees to meet their new product demands. State and local governments are also adjusting their spending plans in preparation for additional Recovery Act funds.