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News About the American Recovery and Reinvestment Act

  • Democrats are moving America forward while Congressional Republicans admit they want to take us back to the “exact same” failed policies that put the special interests ahead of the Middle Class. 
  • The Congressional Republican agenda favors shipping good-paying American jobs overseas, handing Social Security to Wall Street and Medicare to the insurance companies.  That agenda is being secretly funded and promoted by shadowy front groups and corporate special interests. 

San Antonio Business Journal (Texas) - Texas recovery funding is filling some gaps

What has this $787 billion recovery plan meant for Texas thus far? Here are some highlights.

Much of the ARRA funding was allocated to the expansion of existing federal benefit programs, and more than one-third of it was earmarked for tax cuts and incentives for individuals and businesses. The remainder has been and continues to be awarded competitively across states either directly from federal agencies or, by extension, through local and state governments.

Second-quarter 2010 reports for State agencies and public institutions in Texas show that Texas has received some 1,393 federal awards totaling over $9.8 billion.

The Texas Comptroller's office estimates that these funds generated some 40,583 full-time equivalent jobs.

While institutions and businesses across the state are still competing for ARRA funds, the Texas Legislature has appropriated $14.4 billion of stimulus money for fiscal 2009-2011, with 93 percent going to five state agencies: Texas Education Agency, Health and Human Services Commission, Texas Department of Transportation, Texas Department of Housing and Community Affairs, and the Texas Workforce Commission.

When all of these elements are considered, The Perryman Group estimates that the stimulus likely created or preserved at least 150,000 jobs in the state, enough to lower the unemployment rate by about 1.2 percentage points from where it would be otherwise. [10/22/10]

KFYR NBC-5 (North Dakota) - Final Stimulus Numbers Announced for Rural North Dakota

[DISTRICT MENTIONED: Earl Pomeroy (ND-At Large)]

State Director Jasper Schneider today announced the final tally of stimulus investments in North Dakota through USDA Rural Development. The figures total nearly $200 million of American Recovery and Reinvestment Act (Recovery Act) projects that are building a better rural North Dakota.

Through the Recovery Act, USDA Rural Development provided $199,443,380 in assistance to North Dakota through loans, grants and loan guarantees. Investments were made in critical infrastructure to sustain rural economies and ensure their long-term success. The direct impact is shown in the immediate jobs created or saved and the permanent positions made available. The investments will provide opportunities for job creation well into the future.

Also, Rural Development has financed a wide variety of projects through seven program areas addressing the diverse and unique needs of rural communities. The investments have supported essential public facilities and services such as water and sewer systems, housing, health clinics, public safety facilities, renewable energy, and broadband technology. [10/21/10]

Wilson County News (Texas) - Cuellar announces $55.78 million in USDA funds

[MEMBER MENTIONED: Henry Cuellar (TX-28)]

Today, Congressman Henry Cuellar (D-Laredo) announced that the U.S. Department of Agriculture has successfully implemented its American Recovery and Reinvestment Act of 2009 (the Recovery Act) programs, and will distribute 250 grants…to the 28th Congressional District of Texas.

“USDA investments improve our communities because these dollars will preserve and create jobs, and will fund the technology and infrastructure that will lay the groundwork for future economic growth,” said Congressman Cuellar. “These Recovery Act funds arrive not only on schedule, but also with unprecedented levels of integrity and oversight.” [10/22/10]

Crain's News York Business (New York) - Queens supermarket opens, thanks to stimulus cash

A new Stop & Shop supermarket opening Friday in Queens is one of the latest examples of a commercial project benefiting from federal tax-exempt funding.

The $23 million, 55,000-square-foot supermarket on the Rockaway Peninsula received $5.5 million in tax-exempt Recovery Zone bonds made available through the Obama administration's American Recovery and Reinvestment Act.

The supermarket, located at 70-20 Rockaway Beach Blvd., has already created 200 construction jobs and will employ 100 full- and part-time workers when fully staffed.

“New York City has been a national leader in the use of Recovery Zone bonds to invest in hard-hit communities,” Dan Tangherlini, assistant U.S. Treasury secretary for management and chief financial officer at the U.S. Department of Treasury, said in a press release. “With the help of this low-cost borrowing tool, this new supermarket is a perfect example of what the Recovery Act was intended to do - jumpstart development and create new jobs.” [10/22/10]

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