Professional Documents
Culture Documents
Thank you for contacting me regarding the American Recovery and Reinvestment Act.
I appreciate your comments on this important issue and welcome the opportunity to
respond.
As you may know, Florida's unemployment rate has almost doubled within one year to
over 8%. With rising foreclosures and plummeting home values, it is essential that
we take concerted action to reverse these trends.
In order to determine the most responsible course of action, I met with and
listened carefully to expert economists from the Reagan Administration through the
Clinton Administration. They uniformly told us that there is no silver bullet, and
no one expects our economy to turn around overnight. However, if we pass a bold
stimulus plan, which includes a combination of targeted spending and direct tax
cuts, we will be taking the critical first steps towards creating jobs and
rebuilding the long-term strength and viability of our economy. After thoughtfully
considering their advice and that of business owners across South Florida, I voted
to support H.R. 1, the American Recovery and Reinvestment Act, which I believe is
essential to our economic recovery.
The act has many facets but one of the most immediate benefits that you will see
is the "Making Work Pay" tax credit. Over 95% of working Americans can receive
payroll tax relief beginning April 1, 2009. Never before in our nation's history
has a tax cut taken effect so quickly and helped so many Americans, who will then
have more money in their pocket to pay bills and meet their needs.
Besides the $232 billion in tax relief for American families, the funds in the
bill are allocated to state and local governments according to existing formulas
and competitive grants. It is anticipated that the state of Florida will benefit
greatly from these allocations through a variety of investment and spending plans
to reduce further job cuts while adding new jobs. For example, Florida will
receive:
o $1.8 billion for transportation and infrastructure, which will create jobs in
Florida and improve our roads, bridges, waterways, and public transportation
o $3.5 billion to help Florida schools prevent teacher layoffs, repair school
buildings and make up for enormous budget cuts to school operating costs
o $138 million for job training, including training for green jobs in our
nation's energy, high-tech and transportation sectors
Additionally, this bill begins to implement several initiatives that will restore
our place as a global economic leader, including:
o a 30% investment tax credit for business that advances the next generation of
renewable energy technologies
o a tax credit so that families can invest in a plug-in hybrid vehicle and save
money on high energy costs
Sincerely,
Ron Klein
Member of Congress