Today, the House of Representatives passed the American Recovery and Reinvestment Act, legislation that will create and save jobs while investing in the future of our nation. This legislation comes at a challenging time for our nation's economy. In the last year alone, 2.6 million jobs were lost in the United States - the worst year in more than 60 years.
Connecticut has faced unique challenges during the economic recession. The state is home to many of the financial institutions most hurt by the recent collapse of financial markets. Additionally, home foreclosures are on the rise, workers continue to lose their jobs, and the state's infrastructure requires immediate attention.
This bleak economic record speaks to the urgency of this recovery plan. Without a plan for recovery, economists have predicted Connecticut's unemployment will soar, businesseslarge and smallwill continue to close their doors, and the country's dilapidated infrastructure will impede economic and community growth. To address these concerns, the American Recovery and Reinvestment Act has been the top priority of the Obama Administration and the 111th Congress.