Congressman Higgins Announces Approval Of Jobs For Main Street Act

Press Release

Today, Congressman Brian Higgins (NY-27) joined his colleagues in the House of Representatives in approving the Jobs for Main Street Act.

"With this legislation we do nation building here at home, providing critical investments in our physical infrastructure and human infrastructure to build a stronger economy and a better future for our families," said Congressman Higgins, a member of the House Ways and Means Committee.

Investing in Projects that Put People to Work

* Over $2.781 billion for New York road and bridge construction
* Over $108 million in Clean Water State Revolving Funds to New York for construction and improvements to water and sewer infrastructure
* Over $1.2 billion in Public Transit formula funding to New York
* Strengthens the Buy America requirements for Federal-aid highway and public transit programs so we create and maintain jobs in the supply material industries.

Maintaining & Creating Jobs and Opportunity

* Teachers:
o $23 billion nationwide for an Education Jobs Fund to help States support an estimated 250,000 education jobs over the next two years
* Police & Firefighters:
o $1.18 billion to support putting over 5,500 law enforcement officers on the beat throughout the United States
o $500 million to retain, rehire, and hire firefighters across the country
* Job Training:
o $750 million for competitive grants to support job training for approximately 150,000 individuals in high growth and emerging industry sectors, particularly in the health care and green industries that are adding jobs despite difficult economic conditions.
o Expands college work study, summer youth employment and AmeriCorps, programs that support education and workforce training.

Providing Relief for Small Business

* Removes fees on Small Business Administration (SBA) loans making them more affordable for business.
* Increases from 85% to 90% the portion of a loan that the SBA will guarantee, encouraging banks to lend to small business.

Helping Families Hit by the Recession

* Health Insurance:
o Extends COBRA coverage from 9 months to 15 months, through June 2010, for people recently involuntarily separate from their jobs. A Families USA report released this month shows that COBRA coverage saves out-of-work families in New York an average of $700 in health insurance costs each month.
o Provides States with additional federal mating funds for Medicaid, alleviating the burden on New York State taxpayers.
* Tax Break:
o Expands availability of the Child Tax Credit, which provides a $1,000 tax break to families earning up to $110,000 and individuals making up to $75,000.
* Unemployment:
o Extends emergency unemployment benefits through June 2010 for the roughly one million Americans expected to see their emergency benefits expire in January.

The majority of the bill's provisions are paid for by redirecting funds returned from Wall Street to the government through the repayment of Troubled Asset Relief Program (TARP) funds.

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