U.S. House Majority Leader Steny Hoyer and Congressman Jim Himes today met with the Business Council of Fairfield County to discuss the American Recovery and Reinvestment Act, which President Obama signed into law yesterday. The bill is expected to create over 40,000 jobs in Connecticut and help lead businesses and communities toward long-term economic prosperity.
"Our economic recovery begins now," said Congressman Himes. "The Recovery Act will provide immediate relief to working families as we address the remaining pieces of our economic crisis. We must get home foreclosures and the credit crunch under control to complete our economic turn-around."
Specifically, the American Recovery and Reinvestment Act will:
Create and save 3.5 million jobs to help rebuild America transform our economy
Give 95 percent of American workers an immediate tax cut
Invest in infrastructure, including needed upgrades to roads bridges and mass transit 4
Restore science and innovation as the keys to new American-made technology
Invest quickly into the economy - over two-thirds of the funds must be spent by next year
Provide unprecedented accountability and transparency to ensure that your tax dollars are spent wisely. There are no earmarks or pet projects, and all projects can be tracked at www. recovery.gov.
"The American Recovery and Reinvestment Act is a critical step as we address this recession, and it will have a real, positive effect on our economy," House Majority Leader Steny Hoyer said. "This legislation provides tax relief to businesses so that they can create and save jobs and spur consumer demand. This bill also ensures that businesses will have the resources to grow and sustain a long-term economic recovery."
"The national response to the global economic crisis is critical to the vitality of our region. By personally briefing business leaders from around the region, Rep. Himes is demonstrating how important the impact of Washington's actions will be on Fairfield County," said Christopher Bruhl, President & CEO, The Business Council of Fairfield County. "We appreciate the opportunity to hear directly from Representative Himes and Majority Leader Steny Hoyer on the assistance to be provided and opportunities created by the recovery package."