Congressman Garamendi Votes for Critical Jobs Bill That Will Employ Hundreds of Thousands of Americans; Act Fully Paid for by Redirecting Wall Street Bailout to Main Street
WASHINGTON, DC – Today, Congressman John Garamendi (D-Walnut Creek, California) voted for H.R. 2847, the Jobs for Main Street Act, which will help hundreds of thousands of Americans reenter the workforce and also extend unemployment benefits for workers who are currently laid off. The cost is fully paid for by re-diverting Wall Street bailout money to jobs in our communities.
"Unemployed workers in my district and around the country want the security that comes with having a job and the hope that comes with having a paycheck," Congressman Garamendi said. "The Jobs for Main Street Act will bring much needed funding back to our local communities, creating and saving hundreds of thousands of jobs, while making it easier for small businesses to acquire the loans they need to expand their businesses."
The Jobs for Main Street Act:
- Puts $35 billion back into highways and public transportation infrastructure, creating or saving hundreds of thousands of transportation jobs.
- Uses $20 billion to retrain and hire qualified teachers, firefighters, and police officers, creating or saving 25,000 jobs in education alone.
- Brings 25,000 new people into AmeriCorps and creates work study and summer job employment opportunities for 500,000 young workers struggling to find employment in this tough job climate.
- Extends unemployment benefits through June 2010 for those still looking for work.
- Provides job training for 150,000 people in high demand sectors like health care and clean energy.
- Eliminates fees on Small Business Administration loans to make them more affordable for small businesses and raises the portion of a loan that the Small Business Administration will guarantee from 85% to 90%.
- Cuts taxes for 16 million families by making the Child Tax Credit available to all low-income working families with children in 2010.
The Act passed on a 217-212 vote. It now moves to the Senate for consideration.