PUTTING MAIN STREET BACK TO WORK

by House Majority Whip Rep. James E. Clyburn(S.C.)

WASHINGTON, DC—House Majority Whip James E. Clyburn today released the following statement after the House of Representatives passed the Jobs for Main Street Act. This comprehensive employment initiative will help stimulate job creation and provide relief to families struggling with the effects of the recession.

“Congress and President Obama have made great strides in combating the economic crisis and preventing future financial catastrophes with landmark pieces of legislation like the American Recovery and Reinvestment Act and the CARD Reform Act. As a result, we have warded off a second Great Depression and are already reversing the effects of this deep and wide-ranging Recession. We have witnessed a marked decline in the rate of job losses and November’s employment statistics were the best since the crisis began in November 2007. Congress understands that this crisis is not over and took action today by passing the Jobs for Main Street Act, which seeks to stem the tide of job losses and expedite the process of getting Americans back to work. This legislation creates thousands of jobs and provides families the assistance they need to weather the difficulties created by the Recession.

“This act will help stimulate job creation through investments in infrastructure and the creation of municipal employment opportunities. $48 billion will be allotted for infrastructure initiatives such as highway and mass transit projects and school construction and renovation. $23 billion will be invested to help save or create an estimated 250,000 education jobs and 5,000 law enforcement officers will be recruited to keep our streets safe. The package will also extend several Recovery Act measures to spur the creation of small business jobs.

“The Jobs for Main Street Act also provides $79 billion of relief measures for families hit hardest by the Recession. Emergency unemployment benefits will be extended through June of next year and 16 million families will receive a Child Tax Credit. Millions of Americans will have their health insurance benefits protected by extending COBRA and federal matching funds for Medicaid.

“Although we are beginning to turn the page on this difficult economic period, countless Americans are still struggling to find work and provide for themselves and their families. It is for this reason that Congress and President Obama have taken serious steps to reverse our economy’s recent downturn. I have no doubt that the Jobs for Main Street Act will be an effective catalyst for job creation and a central component of our ongoing commitment to getting our economy back on track.”