The American Recovery and Reinvestment Act is a strategic and significant investment in America’s future as stated on the White House website. Its prime purposes are Rescue, Recovery and Reinvestment thereby saving and creating jobs, while also laying the foundation for a “robust and sustainable 21st century economy along with modernizing health care, improving schools, modernizing infrastructure, and investing in the clean energy technologies of the future.
President Obama selected Vice President Joe Biden to oversee the Administration’s implementation of the Recovery Act. It’s now one year later, and much progress has been made.
In Vice President Joe Biden’s report to the President he states that approximately two million jobs have been created or saved thanks to the Act’s impact on hiring in the private sector, by local and state governments, and by non-profits. This estimate comes from the Congressional Budget Office and is corroborated by the analysis of the Council of Economic Advisers.
In January, more than 160,000 reports were received on progress from recipients of funds under the Act. Approximately 20 million Americans have received extended unemployment benefits thanks to the Act, and over 95 percent of working families have had their taxes cut. Jobs have been created thanks to tens of thousands of projects now underway nationwide, there has been economic growth, tax relief, aid to small businesses, and new projects underway.
Vice President Biden states that much has been accomplished but they are far from finished with many projects just now getting underway as well as creating jobs throughout 2010 and beyond. Biden stated in his report to the President that an additional $1.5 billion of innovative surface transportation projects that will support jobs and economic growth from coast to coast.Work on many Recovery Act projects are scheduled to accelerate in the spring and summer months. As weather conditions permit, this would include work on roads, bridges, water projects, and Superfund site clean ups.
Dr. Samella B. Abdullah, an active member of Organizing for America, told The Islamic Post that supporting President Obama’s policies and agendas such as the Recovery Act it will improve the lives of the American people.
Update: Senate passed a $15 billion jobs bill in late February with a vote of 70 to 28, with 13 Republicans and 57 Democratics in support of the package according to the Washington Post.