Congresswoman Waters Hosts Roundtable on Economic Recovery in 35th District
Congresswoman Maxine Waters (CA-35) today hosted an economic recovery roundtable with mayors from Gardena, Hawthorne, Inglewood and Lawndale to focus attention on the potential impact of the American Recovery and Reinvestment Act (H.R. 1) on communities, families and businesses within the 35th Congressional District.
Congresswoman Waters joined a majority in the House of Representatives voting in support of the legislation, which President Obama called vital to create and save 3.5 million American jobs. Congress passed the bill last week, and the President signed it into law on Tuesday.
"The economic recovery package that we passed will put people back to work, stimulate our economy, rebuild our infrastructure and invest in our long-term growth through education, innovation and clean energy. In addition, we are giving immediate help to those most in need by extending unemployment benefits, offering training opportunities for good jobs, and providing food stamps for families. President Obama and Congress got this major job creation package done just three weeks after his inauguration because we recognize the importance of taking bold and quick action to put our nation on the road to recovery," Congresswoman Waters said.
"This legislation also includes one of the largest tax cuts in history. This is a progressive tax cut targeted at middle class and working families, and it benefits 95% of American workers," she said.
Congresswoman Waters emphasized that the recovery package will make a big difference locally. "I invited the mayors to discuss the priorities of our communities and what projects are ready to benefit as federal dollars from the stimulus bill go to work in our district. I am going to be working closely with leaders throughout the 35th Congressional District to make sure that eligible entities know about the funding they can apply for and to make sure that my constituents can utilize all the resources in this bill," she said.
Congresswoman Waters said, "This legislation will create or save 7,300 jobs here in the 35th Congressional District and almost 400,000 jobs in the entire state over the next two years according to the White House. At a time when unemployment here in California has climbed to 9.3% -- among the highest rates in the nation – and a staggering 3.6 million American jobs were lost in the last 13 months, this recovery package is urgently needed."
The stimulus package will infuse tens of billions of dollars into California and save nearly 400,000 jobs in the state according to the White House. Of the total $787 billion in federal funding, Senator Barbara Boxer estimates that California will receive at least $78 billion of stimulus over the next two years. Precise numbers are difficult to determine now because the funds will be distributed partly by formulas to states and cities and partly through competitive evaluation. However, the public will be able to monitor how funds are spent at a new web site www.recovery.gov.
The American Recovery and Reinvestment Act was designed with the following objectives:
· Providing a Making Work Pay tax cut of up to $800 for 12,420,000 California workers and their families, designed to start paying out immediately into workers' paychecks, as well as tax cuts to spur businesses large and small;
· Transforming our economy with clean, efficient, American energy and innovation and technology that will create more than 1 million jobs nationwide;
· Lowering healthcare costs and improving care by computerizing medical records, which will create hundreds of thousands of jobs, and helping those who cannot afford health care in these tough times;
· Modernizing roads and bridges to create jobs with an extra $2,569,568,320 here in California along with other critical infrastructure like high-speed rail, the boldest investment since the creation of the interstate highway system a half century ago;
· Promoting education for the 21st Century, modernizing schools and making college more affordable with improved Pell Grants for the 744,236 Pell Grant recipient here in California and a higher education tax credit for 522,000 students in our state;
· Helping workers hurt by the economy, including 1,731,800 Californians that are out of work, those who have lost their health care, and seniors; and
· Saving the jobs of teachers, police officers, health care workers, and protecting the vital services they provide.
"It will take time to turn this economy around, but I am confident that this package will make our economy stronger and more resilient," said Congresswoman Waters. "Americans have always come together in the face of challenges and we will once again with the swift and bold leadership of President Obama."