The American Recovery and Reinvestment Act
How the Economic Stimulus is Helping Brooklyn
In February 2009, the Congress passed and the President signed the American Recovery and Reinvestment Act into law. The $787 billion economic stimulus bill has slowly been reaching our local communities over the past few months and is now beginning to show signs of positive impacts on the economy.
This package will give our struggling economy a boost by sending money where it is needed most: to lower- and middle-income families. This will give taxpayers a much-needed rebate, with checks going out to an estimated 8.3 million families in New York State. In New York, families will get an average of $807, added to paychecks throughout the year, injecting approximately $6.7 billion into the economy for our state. Parents will get a rebate of $300 per child, building off of the popular child tax credit. The package also provides relief for seniors, disabled veterans and military families. For small businesses, the package includes tax incentives for purchasing new equipment and helps to create new jobs.
We have a long way to go before we leave the current economic downturn behind us, but with a coordinated effort between the government and local businesses, we are now seeing positive signs in our economy.
The ARRA has committed $31.8 million in tax cuts, extended unemployment benefits, and ‘shovel-ready’ projects in the 11th Congressional District. To track the programs receiving ARRA funds in the 11th district, please click here.
To see how the funds from the American Recovery and Reinvestment Act are being spent in New York:
To search for grants available through the American Recovery and Reinvestment Act:
More on The American Recovery and Reinvestment Act
"Flatbush Congresswoman Yvette D. Clarke today lauded the October Jobs Report from the Department of Labor, which announced that the economy added 271,000 jobs and the unemployment rate decreased to five percent, lower than before the start of the Great Recession."
Congresswoman Yvette D. Clarke applauded the announcement by the Department of Health and Human Services that 106,000 people have selected health insurance plans with the health care marketplaces established under the Affordable Care Act, and another 975,407 people have completed the application process and now have the opportunity to select a plan.
Two representatives from the financial and energy sectors on Wednesday called on Congress to pass legislation that would increase the flow of data shared between the government and industry about cyber threats.
"At the end of the day, we need to know what's going on and what's affecting us," said Anish Bhimani, chief information risk officer of JPMorgan Chase, who testified on behalf of the Financial Services Information Sharing and Analysis Center at a House hearing.
Energized with a new chairman and five new freshman House members, the Congressional Black Caucus was sworn in for the 113th Congress Jan. 3 with a pledge from incoming Chairman Marcia Fudge (D-Ohio) to “play to win” with the Obama administration in the battle for jobs, income opportunity and political influence for Black America.
“I’m looking forward to working with the administration, I’m certainly proud of our president but there are some things I think we need to discuss.”