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New public works
money absent in Senate jobs bill
Frustrating the hopes of infrastructure advocates, the U.S. Senate's jobs bill,
known as the Hiring Incentives to Restore Employment (HIRE) Act, will contain no
new federal dollars for public works projects. After discussions on a variety of
proposals, the body will consider a pared-down package of bills presented by
Senate Majority Leader Harry Reid (D-NV) in the last week of February.
Senator Reid's $15 billion HIRE plan includes just two public works-related
proposals. Most notably, it extends the federal highway trust fund with an
account of $19.5 billion allocated from the general fund through the end of the
calendar year. The bill will also allocate $2 billion for the Build American
Bonds program.
The bill also includes a variety of tax credits and exemptions for businesses
that hire new employees in 2010.
Senate Republicans are opposing the HIRE bill, labeling it fiscally
irresponsible.
"I want to warn my colleagues not to be distracted by those who call this draft
legislation a 'jobs' bill, because the reality is that this plan doesn't create
more jobs, just more government and more debt," said Senator Judd Gregg (R-NH).
"A perfect example is the highway extension plan, which transfers $47 billion
from the Treasury's General Fund to the Highway Trust Fund over the next 10
years, adding to the nation's debt burden. In 2010 alone, a $19.5 billion
transfer will instantly increase the federal debt by that amount. The Highway
Trust Fund is insolvent, and instead of attempting to fix the problem, this
draft bill would simply kick the can down the road and ask our children to pay
for these transfers, with interest."
The GOP opposition is so strong that there is even discussion of a potential GOP
filibuster when the debate is opened on the Senate floor.
The Senate Democrat caucus, however, has staunchly defended the infrastructure
spending provisions with the backing of construction advocacy groups.
"If this HIRE Act is not passed...we'll see thousands of projects grind to a
halt and thousands of jobs lost," said William Millar, President of the American
Public Transportation Association.
Also drawing the Republicans' ire was the fact that Senator Reid's smaller HIRE
bill undercut the larger bipartisan HIRE proposal crafted by Senator Max Baucus
(D-MT), chairman of the Senate Finance Committee, and the panel's ranking
minority member, Sen. Charles Grassley (R-IA), that came with a $85 billion
price tag over the next ten years.
While HIRE contains no new infrastructure spending, Senator Barbara Boxer (D-CA)
has indicated that if the bill is approved by Congress, the body may take on a
second jobs package that includes more infrastructure spending.
NYS spending ARRA dollars quickly
Governor David A. Paterson has
issued a report declaring that New York State is "on or ahead of schedule" in
spending, allocating, or bidding stimulus funds. This news came on the first
anniversary of the American Recovery and Reinvestment Act (ARRA).
New York received approximately $31 billion in stimulus funds, which have been
distributed in a myriad of ways, including directly to private entities and
local government. Other funds have been channeled into various programs such as
food stamps, job training, and unemployment.
The state received $1.12 billion for transportation construction from the ARRA,
all of which has been allocated to over 400 projects well in advance of the
federally-imposed 'use it or lose it' March 2nd deadline. These projects will be
underway by the summer, with the vast majority underway by spring, pending the
lifting of adverse winter weather conditions.
The state has also received over half a billion dollars for various initiatives
related to clean water - some of these projects aim to ensure a supply of fresh
drinking water, while other programs (funded by the largest single grant ever
disbursed by the EPA) are related to protecting the cleanliness of the entire
water supply.
Governor Paterson was pleased with these developments, remarking on his pride in
New York State's expeditious dedication of stimulus dollars. He also sounded a
note of confidence regarding the integrity and efficacy of the ongoing stimulus
process.
"New York has instituted several layers of oversight to ensure that stimulus
funds are spent as Congress directed and to build our economy and create jobs,"
the governor said.
To read Governor Paterson's
press release on this ARRA spending, visit:
www.state.ny.us/governor/press/press_02171002.html
To read the full report, visit:
www.state.ny.us/governor/reports/pdf/ARRAReport.pdf
For more information on New York State stimulus spending, visit:
www.recovery.ny.gov
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