American Jobs Act - Wikipedia
The jobs bill President Barack Obama delivered this week to Congress will create nearly 2 million new U. Roosevelt did it.
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Eisenhower did it. So did Kennedy, Johnson, and George W. And each time, these short-term fiscal expansions worked as intended, generating more economic activity than they cost, putting people to work, and making the country stronger. It prevents layoffs and puts people to work building roads, bridges, and schools.
It cuts taxes to spur consumer spending and small business hiring. And it maintains a safety net for Americans most hurt by the economic downturn. We know from experience that infrastructure investments create private-sector jobs. The Recovery and Reinvestment Act of , for example, saved or created 1. And more than , teachers got to keep their jobs thanks to a direct state aid infusion in the Recovery Act known as the State Fiscal Stabilization Fund, according to the Education Department.
Academic, private-sector, and nonpartisan government studies alike confirm the positive effects of infrastructure and transportation investments on private-sector employment.
Why is infrastructure investment such an effective job creator? Because upgrading roads, bridges, and other basic infrastructure lowers the cost of doing business—such as transporting goods.
Thomson Reuters Launches Comprehensive Tax Cuts and Jobs Act Toolkit
That makes U. And these investments put people to work earning good, middle-class incomes, which expands the consumer base for businesses. Infrastructure investments have historically had bipartisan support because they boost productivity for all American businesses, while creating jobs.
Well-designed tax cuts can boost the economy when demand is low. And the employer-side payroll tax holiday will also have a strong stimulative effect.
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And the right-leaning National Federation of Independent Businesses has voiced support for payroll tax holidays. Help entrepreneurs and small businesses get access to capital, grow and hire by expanding Small Business Administration backed loan limits, cutting red tape and reforming our patent system.
Offering tax credits to encourage businesses to hire unemployed veterans. Preventing up to , teacher layoffs, and keeping first responders including firefighters and police officers on the job.
American Jobs Act
Modernizing at least 35, public schools across the country , supporting new science labs, Internet- ready classrooms and school renovations in both rural and urban communities, putting hundreds of thousands of Americans back to work. Making immediate investments in infrastructure , modernizing our roads, railways and airports, putting hundreds of thousands of workers back on the job.
Project Rebuild: an effort to put people back to work rehabilitating homes and businesses and stabilizing communities, leveraging private capital and scaling up successful models of public-private collaboration. Innovative entrepreneurship and wage insurance programs: States will also be empowered to implement wage insurance to help reemploy older workers and create programs that make it easier for unemployed workers to start their own businesses. Prohibiting employers from discriminating against unemployed workers when hiring.
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Expanding job opportunities for low-income youth and adults by investing in promising and proven strategies and programs like summer jobs and sector-based training programs.
Related The American Jobs Act Comprehensive Fact Sheet
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