U.S. Congressman John B. Larson (CT-01) announced that the Recovery Act has created or saved over 3 million jobs nationwide, including more than 33,000 jobs in Connecticut. The latest quarterly report from the Council on Economic Advisers also shows that our economy is on track to create an additional 500,000 jobs nationwide by the end of the year.
"We already knew that the Recovery Act lowered taxes for 98% of Americans. Now we know it is responsible for creating or saving more jobs than originally thought. My number one priority is keeping jobs in this country and putting Connecticut back to work," said Congressman Larson. "Eight years of failed economic policies pushed our economy to the brink of disaster, and the Recovery Act is digging us out of Bush's recession. We still have a long way to go to put more Americans back to work, but we're clearly moving in the right direction."
These job figures were released this week in the latest quarterly report by the Council on Economic Advisers (CEA). The CEA estimates that the Recovery Act has raised the GDP by 3 percent, and has created economic development and private investment across the country.
Congressman Larson also highlighted projects in his district that have created jobs and spurred the local economy thanks to the Recovery Act.
Charter Oak Health Center, Inc. in Hartford will create or sustain 360 jobs and expand access to health care services for the city's underinsured and uninsured residents. A recent report stated that $24 million in Recovery Act funding to community health centers in the Hartford region, will put $40 million back into our local economy.
"Community health centers stimulate economic growth, and this funding will create quality jobs and provide essential health services to the uninsured and underinsured residents of the region," said Congressman Larson.
In addition, Joining Technologies of East Granby, a small business specializing in precision welding and laser applications, received over one million dollars in Recovery Act SBA loan funding to create fifteen new highly-skilled technology jobs and support the growth of their emerging business.
Congressman Larson added, "I want to see "Made in America' make a comeback. Our nation can and should be a global leader in cutting-edge industries like clean energy and high-tech. The Recovery Act is sparking American innovation, creating jobs immediately and making our local economy stronger for the future."
The American Recovery and Reinvestment Act cut taxes for 98% of working Americans, offered tax cuts and loans to millions of small businesses, extended unemployment and COBRA health benefits for those looking for work, and started to lay a new foundation for our economy with key investments in high speed rail, clean and efficient energy, high-speed broadband and wireless communications, and electronic medical records.