Today, U.S. Rep. Michael Arcuri (NY-24) voted for legislation that will deliver $2.8 billion in education and health care funding for New York State. The House reconvened this week to take up this emergency aid to help states keep teachers in classrooms and first responders on duty. The Education Jobs and Medicaid Assistance Act (H.R. 1586) will not add to the national debt and will actually reduces the deficit by $1.4 billion over 10 years-in part by closing a loophole that encourages corporations to ship American jobs overseas.
"Communities across the country are being forced to choose between important public services-like keeping teachers in classroom or keeping polices officers on the beat," said Arcuri. "This funding will keep more than 7,100 teachers on the job as we get ready to send students across New York State back to school. Additionally, the $2.2 billion in Medicaid assistance will help local governments weather these tough economic times, allowing them to avoid layoffs and keep our first responders on duty."
The Education Jobs and Medicaid Assistance Act (H.R. 1586) provides a total of $26.1 billion in funding: $10 billion for an Education Jobs Fund and $16.1 billion in additional Medicaid assistance to states.
For New York State, this legislation includes more than $600 million in funding for our local school districts to save or create 7,100 teacher jobs, and $2.2 billion in Medicare assistance that, by reducing state and local budget shortfalls, will help keep thousands more on the job, including police officers, firefighters and nurses.
H. R. 1586 will not add to the national debt and, according to the bi-partisan Congressional Budget Office, reduces the deficit by $1.4 billion over 10 years. This is accomplished in part by closing tax loopholes for U.S.-based multinational corporations, reformulating rebates that drugmakers must provide to participate in Medicaid, reducing mandatory spending included in the Recovery Bill, and by rescissions from programs that no longer require funding, have sufficient funding or have funding that cannot be spent before the authority to do so expires.
H.R. 1586 passed today in the U.S. House of Representatives by a vote of 247-161 and will now be sent to the President to be signed into law.