Today, Congressman Sires joined his colleagues in the House of Representatives in passing comprehensive legislation to generate jobs and bring emergency relief to Americans hit by the recession. The Jobs for Main Street Act, which passed by a vote of 217 to 212, will create or save jobs here at home with targeted investments for highways and transit, school renovation, hiring teachers, police, and firefighters, small business, job training and affordable housing, as well provide emergency relief for those struck hardest by the economic downturn.
"The $48 billion invested through this legislation to rehabilitate our infrastructure by fixing our crumbling roads, bridges, schools, and housing is not only a positive way to create jobs, but a great way to rebuild our communities," stated Congressman Sires.
In addition to the investments in infrastructure, this legislation also includes $27 billion in funding for state and local governments to save or create jobs in education and local law enforcement, as well as funding for other hiring and training programs. The package also extends several Recovery Act initiatives to help America's small businesses create jobs, including increased encouragement to banks to raise lending. The investments in local communities will be fully paid for by redirecting TARP funds.
Finally, this bill builds on prior emergency relief efforts to assist the unemployed by extending for six months, to June 2010, emergency unemployment benefits and the federal subsidy for COBRA health insurance coverage.
"Main Street is struggling, and this package will provide the necessary assistance to those families fighting to make ends meet, while affording them the opportunities for new employment," expressed Congressman Sires. "I look forward to building on this progress in the new year to reduce the number of unemployed in New Jersey and across the nation."