Jobs in Connecticut Could Increase by 41,000 Thanks to Stimulus
Posted on February 18, 2009
The new federal economic stimulus could mean 41,000 jobs in Connecticut.
The $789 billion stimulus bill is expected to create 3.5 million jobs throughout the nation during the next two years. Of those added jobs, 41,000 will be in Connecticut, according to an article by the ConnecitcutPost. Not only will the stimulus bill help create Connecticut jobs and jobs nationwide, one-third of the bill is dedicated to providing tax relief for middle-class families and cutting taxes for 95 percent of the country.
The bill overall includes an “American opportunity” tax credit of up to $2,500 for tuition and related expenses for those earning less than $80,000 per year; deduction of sales tax paid on new car purchases and an increased earned income tax credit for working families with three or more children. The bill also would appropriate $311 billion for programs, including: $120 billion for construction projects; $105.9 billion for education and training; $30 billion for energy infrastructure and $24.3 billion to help families hit hardest by the economic crisis.
The bill also offers $21 billion in COBRA premium assistance; a $19.9 billion increase to the Supplemental Nutrition Assistance Program, or Food Stamps, and $2 billion for 300,000 children in low-income families to receive child-care.
Other funds include:
$53.6 billion that would go into a “State Fiscal Stabilization Fund” with $39.5 billion to be used by local school districts.
$13 billion for Title 1 to help close the achievement gap and enable disadvantaged students to reach their potential.
$12.2 billion for Special Education/IDEA to improve educational outcomes for disabled children.
$2.25 billion through HOME and the Low Income Housing Tax Credit program to fill financing gaps caused by the credit freeze and get stalled housing development projects moving.
$1 billion for the Community Development Block Grant program for community and economic development projects including housing and services for those hit hard by tough economic times.
$27.5 billion is included for highway investments.
$9.3 billion for investments in rail transportation, including Amtrak, high speed and intercity rail.
$8.4 billion for investments in public transportation.
$1.5 billion for competitive grants to state and local governments for transportation investments.
$4 billion to for local public housing agencies capital funds.
$2 billion for the redevelopment of abandoned and foreclosed homes.
$1.5 billion for homeless prevention activities, which will be sent out to states, cities and local governments through the emergency shelter grant formula.
$6 billion for local clean and drinking water infrastructure improvements.
$1.2 billion for EPA‘s nationwide environmental cleanup programs, including Superfund.
$11 billion for smart-grid related activities, including work to modernize the electric grid.
$10 billion to conduct biomedical research in areas such as cancer, Alzheimer’s, heart disease and stem cells, and to improve NIH facilities.
$15.6 billion to increase the maximum Pell Grant by $500.
$3.95 billion for job training.