Working for You: The 111th Congress' Record on Job Creation

October 1, 2010

In response to the worst recession since the Great Depression, the 111th Congress took action to bring our economy back from the brink and restore American jobs here at home. While Republicans are trying to take us back to the “exact same agenda” of failed Bush economic policies that caused this mess, the Democrat-led Congress has passed:

AMERICAN RECOVERY AND REINVESTMENT ACT: Enacted in the first month of President Obama’s term to jumpstart our economy, create and save 3.5 million jobs, give 98 percent of American workers a tax cut, and begin to rebuild America’s road, rail, and water infrastructure – all with unprecedented accountability. (Signed into Law)

For San Francisco, the Recovery Act has provided $500 million for projects to save and create jobs in our city.

SMALL BUSINESS JOBS ACT: Landmark legislation providing eight more small business tax cuts on top of the eight already enacted by this Congress; creating up to 500,000 jobs by leveraging up to $300 billion in private sector lending for small businesses through a lending fund for community banks. The legislation is fully paid for. (Signed into Law)

These tax cuts will directly help many of the 3.4 million small businesses in California.

TEACHER JOBS/STATE AID/CLOSING TAX LOOPHOLES: Creating and saving about 319,000 jobs – saving 161,000 teacher jobs and providing state aid that will create and save another 158,000 jobs. It is fully paid for by closing loopholes that encourage companies to ship American jobs overseas. (Signed into Law)

An estimated 16,500 teachers in California will be able to remain in classrooms teaching our children.

STUDENT AID & FISCAL RESPONSIBILITY ACT: Making the largest investment in college aid in history – increasing Pell Grants, making college loans more affordable, and strengthening community colleges – while reducing the federal deficit by ending wasteful student loan subsidies to banks. (Signed into Law)

This legislation will provide $64,127,336 over 10 years in Pell Grants for San Francisco students to help make college more affordable and match cost-of-living increases.

HIRE ACT: Creating 300,000 jobs with tax incentives for businesses hiring unemployed Americans and to spur small business investment, and unleashing investments to rebuild infrastructure. (Signed into Law)

CASH FOR CLUNKERS: Jump-starting the U.S. auto industry, with consumer incentives for trading in an old vehicle for one with higher fuel efficiency – spurring the sale of 700,000 vehicles. (Signed into Law)

WORKER, HOMEOWNERSHIP & BUSINESS ASSISTANCE ACT: Boosting the economy with emergency aid for the unemployed, the first-time homebuyer tax credit, and tax relief for struggling businesses. (Signed into Law)

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