Economic Recovery
U.S. Senator Sherrod Brown (D-OH) announced the American Recovery and Reinvestment Act, which President Obama signed into law on February 17, 2009, will direct more than $8 billion to Ohio and is expected to create or save more than 133,000 jobs across Ohio and give tax relief to 4.35 million workers and their families.
“This bill accomplishes what we set out to do—rebuild our economy and put Americans back to work,” said Brown. “This isn’t a perfect bill but it is a significant jumpstart that our economy needs. It includes investments in Ohio’s infrastructure which will provide immediate job creation and promote long-term economic development. It also provides relief to middle class families by lowering taxes and making college more affordable. This bill is the first of many steps we will take to rebuild our economy and address the housing crisis.”Brown has been fighting to ensure the economic recovery legislation helps alleviate Ohio’s budget concerns while creating jobs and meeting the needs of middle class families.
The American Recovery and Reinvestment Act of 2009 is expected to:
- Create or save 133,000 jobs in Ohio, with over 90 percent of them in the private sector.
- Invest $282.9 million in funds for water and sewer projects, $935.7 million in highway funds, and $179.8 million in investments in mass transit in Ohio.
- Provide critical tax relief for middle class Ohioans. The ”Making Work Pay Tax Credit“ will provide up to $400 for individuals and $800 for married couples. An estimated 4.5 million Ohioans will receive tax relief through this credit.
- Prevent 884,000 Ohioans from paying the “Alternative Minimum Tax.” The AMT was established in 1969 to target approximately 150 high-income households that were making so many deductions that they otherwise would have no tax liability. Because it has not been indexed for inflation, it now affects millions of middle class households.
- Lessen the burden on local tax-payers by putting more than $1.5 billion in funds that invest in local school districts and public colleges and universities and making Ohio one of the largest beneficiaries of education and training funds in the economic recovery legislation.
- Target communities hard-hit by job loss by providing $68 million in funds to retrain dislocated workers and help communities with high unemployment rates build “regional clusters” of industry and workforce.
- Help Ohio meet budget challenges by directing $3 billion in Medicaid funds, freeing up funds that currently consume more than one-third of Ohio’s state budget.
- Direct $97.9 million in funds for Ohio’s State Energy Program and $273.3 million to help Ohioans weatherize their homes, which is also geared toward creating jobs in the process.
- Meet human needs and protect important services with $825.3 million in funds that support Ohio’s food banks, school lunches, and other vital nutrition programs.
Economic Recovery Package
To find a summary of the national funding in the economic recovery package please click the link here
To find a summary of the Ohio funding in the economic recovery package, please click the link here
Economic Recovery Funds — Help for Ohioans
To find a summary of the national funding in the federal stimulus legislation please click here
To view the president’s website on the recovery funding, which provides important information for individuals and businesses,please click here
To find a summary of Competitive Grants and other Loan Guarantee Programs click here.
Contact Sherrod
If you are affected by the downturn in the economy, Senator Brown wants to hear from you. Please fill out our contact form and tell us your story.
Updates
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