WASHINGTON, D.C. - Earlier today the House of Representatives began debate on H.R. 1, the American Recovery and Reinvestment Act of 2009, including provisions approved by the Committee on Ways and Means. The House is expected to vote on the measure tomorrow afternoon. Ways and Means Committee Chairman Charles B. Rangel (D-NY), issued the following remarks in support of the legislation:
“Throughout the history of our great nation, when the going got tough, the tough got going, and it is time to unite and move this country forward once again. This plan will help create jobs and provide tax cuts for families and businesses hit the hardest by the economic downturn. Once this bill becomes law, families will be able to pick up the pieces, find new jobs, keep a roof over their heads, put food on their table and find it easier to send their children to college. This bill provides resources to businesses, large and small, so that they can invest capital now to grow and create new jobs, particularly in the high-tech sectors such as health information technology.
“This bill makes a down payment on America’s future, with investments in infrastructure to improve our roads, schools and bridges, and help our workers compete in the global economy. We are also continuing our investment in renewable energy to reduce our dependence on foreign oil and create new 21st Century, green jobs.
“President Obama has issued a call to action, and Congress has responded. I truly believe that history will record this as one of our bravest moments, when we met the challenge of a sour economy and worked together to build a brighter future."
Critical Benefits to Families, Businesses, Incentives to Create New, Green Jobs:
The American Recovery and Reinvestment Act of 2009 will provide critical tax relief to working families and assistance with healthcare costs as well as extended and enhanced unemployment benefits for those who have lost their jobs during the economic downturn. The Act would also give businesses, large and small, tax incentives to invest in plants and equipment and expand to hire new workers, helping to strengthen our economy and create new jobs. In particular, the Act would help create new, green jobs by making a critical investment in renewable energy and energy efficiency.
Important Health Benefits, Improvements to Care:
H.R. 1 would also provide payment incentives to encourage the widespread adoption of Health Information Technology (HIT) and establish standards for interoperability and privacy. The investment in HIT is a critical step toward modernizing American healthcare, cutting red tape, eliminating redundant care and reducing health insurance premiums for millions.
Finally, the recovery package would provide temporary subsidies to help families who have lost their jobs maintain their healthcare coverage through the Consolidated Omnibus Budget Reconciliation Act (COBRA). This benefit will be of tremendous assistance to families struggling to find new work and maintain economic security during the downturn.R. 1 approved by the Ways and Means Committee last week.
