Rep. Becerra Votes For Main Street Job Creation Package

Press Release

Today the House of Representatives passed the Jobs for Main Street Act to make targeted job-creating investments in America's infrastructure and small businesses. Representative Xavier Becerra (CA-31), Vice Chair of the House Democratic Caucus and a senior member of the Ways and Means Committee, voted for the bill.

"If you are one of the millions of Americans who lost their job in this crisis, no amount of positive economic news can put food on your table or pay your child's college tuition," Rep. Becerra said. "This bill will not only spur the creation of good sustainable jobs--it makes much needed investments in our infrastructure, schools, public safety and small businesses. It also lends a helping hand to those who cannot find work by extending unemployment and access to health care benefits. We cannot rest until those Americans who seek jobs can find them."

The Jobs for Main Street Act will create or save jobs with $75 billion in targeted investments for highways and transit, school renovation, hiring teachers, police, and firefighters, small business, job training and affordable housing--key drivers of economic growth that have the most bang for the buck. These investments are fully paid for by redirecting TARP funds from Wall Street to Main Street.

The bill invests $48 billion in highway, transit and other infrastructure projects and includes funds for school renovation, clean water infrastructure, and affordable housing rehabilitation. It is estimated that the highway and transit funding alone will create or save over 900,000 jobs. The legislation also dedicates funds to help states save or create an estimated 250,000 education jobs over the next two years, hire 5,000 law enforcement officers, and support 25,000 more AmeriCorps volunteers.

Small businesses will also benefit from the elimination of fees on Small Business Administration (SBA) loans and an increase in the SBA guarantee of those loans. Small business provisions in the Recovery Act have already supported tens of thousands of loans, totaling $9 billion in new small business lending and helping to save or create thousands of jobs since the Recovery Act's passage.

The legislation extends emergency unemployment and COBRA health insurance benefits through June of 2010. It also makes the refundable portion of the Child Tax Credit available to all low-income working families with children in 2010.

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