Congressman Joseph Crowley (D-Queens, the Bronx) praised today's passage in the U.S. House of Representatives of The American Economic Recovery and Reinvestment Act (H.R. 598) by a vote of 244 to 188. This critical legislation will quickly infuse an estimated $825 billion in relief into our nation's economy. It will create over 3 million new jobs and provide $300 billion in tax incentives for workers and businesses with the goal of putting Americans back to work.
"With the economy in a downward spiral, New Yorkers and the nation cannot afford inaction or partisanship. This package is all about goal number one: jobs, jobs, jobs," said Congressman Joseph Crowley. "We lost a staggering 2.6 million American jobs in the last year of the Bush Administration, and it is clear we need to take the nation in a new direction. These critical investments will put New Yorkers back to work, cut taxes for middle-class families, renovate our nation's crumbling infrastructure and invest in our most important commodity - our citizens. My constituents in Queens and the Bronx are hurting like many across the United States, and our greatest responsibility as their representatives in Congress is to help jumpstart our economy and help them through this crisis."
The American Economic Recovery and Reinvestment Act (H.R. 598) will:
create and save an estimated 3 to 4 million jobs, rebuilding America, making us more globally competitive and energy independent, and transforming our economy for long-term growth.
give 95% of Americans an immediate tax cut.
invest in over $3 billion in infrastructure projects for New York within 90 days of enactment.
provide at least 20 additional weeks of unemployment benefits to New York workers.
The Senate is expected now to consider the economic recovery package next week. Congressman Crowley is a member of the exclusive House Committee on Ways and Means that crafted the tax, health, and unemployment extension provisions of the bill.