The
New Deal for a New Economy Act
· HR
4290, The New Deal for a New Economy Act would create at least 3 million jobs by authorizing a three-year job creation and
retention program at $60 billion per year.
·
All funding would be fully offset through returned/un-obligated portions of the Troubled Asset Relief Program (TARP).
· This bill focuses
directly on job creation and retention and will help our nation move rapidly out of the worst economic
crisis since the Great Depression. Specifically the bill does three things:
o Establishes a public works and public
interest grant program administered by the Department of Labor to put people back to work immediately. Jobs would include
painting schools, cleaning up our communities, restoring and preserving historical landmarks, helping run afterschool programs,
expanding social service offerings, and other needs that have been pushed to the back burner
as a result of limited funds in virtually every community in our country. The funds would take into account state/territory
population and unemployment rates. Eligible recipients for these grants would include state,
county, and municipal governments and non-political, non-religious not-for-profit community based organizations. $31
billion
o
Provides a life line to our state and local governments in the form of direct aid
through the New Economy State Stabilization Fund as a way
to maintain current services and retain its current workforce. Funding would be available in the form of existing grant programs
to ensure rapid deployment of funding and retain/rehire education, public safety and public works/government service positions
that are in jeopardy as a result of budget
shortfalls at the local and state levels. $20 billion
·
COPS Hiring Recovery Program (DOJ)--$2 billion
· SAFER (DHS)--$2
billion
· Elementary and Secondary Education
Assistance (ED)--$14 billion
· Public Works and Economic
Development Grants (Commerce)--$2 billion
o Provides a direct funding stream to
our National Parks and Forests, each of whom have billions in deferred maintenance projects. The funds would
be used to rehabilitate some of our nation’s most precious resources that have fallen into a state of disrepair as a
result of financial neglect. $9 billion
· To participate
in this program a person must be:
§ Unemployed
§
A citizen or legal permanent resident of the United States
§ At least 18
years of age
§ May not be enrolled as a full time student
· The bill goes
to great lengths to protect and maintain our current workforce.
o No funding under this Act can be used
to layoff, furlough, terminate or reduce the working hours of any existing employee.
o
Prevents the grant recipient from using the funding under the program to hire for positions that would otherwise be filled
with permanent employees.
o Fair wages that are consistent with Davis-Bacon and
prevailing wage statutes will be
paid.
· A conservative estimate is that this proposal will
create at least three million jobs over the life of the program.
It will give people a job instead of another unemployment check and rebuild our communities at the same time. This is a simple,
DIRECT jobs piece that is exactly what our nation needs at this time.
Press Release: Hare Introduces Major Job Creation Legislation
December
11, 2009
Congressman Phil Hare (D-IL),
a member of the Congressional Task
Force on Job Creation and Chairman of the Congressional Progressive Caucus Task Force on Jobs,
today introduced the New Deal for a New Economy Act, legislation that would put millions of
Americans back to work by implementing a 3-year, $180 billion direct job creation and retention program paid for by unused
money from the Troubled Assets Relief Program (TARP).
“Faced with 10 percent unemployment, President Obama
this week rightly acknowledged the need to accelerate job growth in the short term,” Hare said. “This emergency
job creation plan would do just that.”
“My friend and colleague Phil Hare understands what so many people across the country are feeling during
these difficult economic times,” said Congressman John Larson (D-CT), Chairman of the
House Democratic Caucus. “His legislation represents a bold step to put people back
to work in good-paying jobs that will also make big improvements in communities across the country. I commend him for
his hard work and innovative thinking.”
The New Deal for a New Economy Act would create at least 3 million
jobs through a targeted, three-tiered approach. First, the bill would establish a $31 billion per year public works and public
interest grant program administered by the Department of Labor to put people back to work immediately, similar to President Franklin Roosevelt’s Works Progress Administration. Second, it would distribute $20 billion per year
in direct aid to financially-strapped state and local governments so they can retain their current workforce and make new
hires. Finally, $9 billion per year would be spent to put Americans back to work renovating our National Parks and Forests,
much like the Conservation Corps of the 1970’s. “My legislation is modeled after programs that are tried and tested
job creators,” Hare said. “Putting Americans back to work doesn’t take guesswork; it requires the political
courage to do something bold like FDR did.”
All funding for the bill would
be fully offset through returned/unobligated portions of TARP. “Wall Street got its
bailout,” Hare said. “It is time for Main Street to get their fair share in return.”
To participate in this program a person must be unemployed, a U.S. citizen or permanent legal resident, at least
18 years of age, and not currently a full-time student.
The bill goes to substantial lengths to protect current
workers. No funding in the legislation can be used to layoff, furlough, terminate or reduce the working hours of any existing
employee. Furthermore, it prevents grant recipients from using the funding to hire for positions that would otherwise be filled
with permanent employees. Finally, all wages paid must be consistent with prevailing wage statutes.
Kevin Donnelly
Legislative Director
U.S.
Congressman Phil Hare (IL-17)
428 Cannon House Office Building
Washington, DC 20515
(202) 225-5905
(202) 225-5396 - fax
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