Thompson votes for recovery package

Eureka Times Standard

The House of Representatives voted today in support of a comprehensive economic recovery package that included key provisions drafted by North Coast Congressman Mike Thompson.

”There isn't a day that goes by without new signs that our economy is grinding to a halt,” Thompson said in a press release. “This bill provides desperately needed funding and tax relief to help working families cope with these challenging times. By making these critical investments, particularly in rural communities like those in our district, we are not only putting people to work in the short run, but also strengthening our economy for the long haul.”

The legislation, which passed the house with a 244-188 vote, includes $275 billion in tax cuts for individuals and businesses, and $550 billion in investments in infrastructure, education, clean energy and health care. California alone is slated to receive a minimum of $32 billion in recovery funds, according to the release.

The package includes $90 billion to repair and modernize roads, bridges, transit and waterways, including the $4.5 billion requested by Thompson for the Army Corps of Engineers, $41 billion for local school districts to repair and upgrade facilities and $63 billion in increased food stamps, unemployment benefits and job training.

The package also sets aside $73 billion in new funding and tax incentives to reduce the nation's dependence on foreign oil and gas, including several alternative energy tax provisions authored by Thompson aimed to provide billions of dollars in tax incentives to expand the use of renewable energy.
”The solar energy tax provisions I authored will make it easier for businesses and homeowners to have solar panels installed,” Thompson said in the release. “This has the twin benefits of creating green jobs while at the same time reducing our dependence on foreign oil.”

The Senate is expected to consider companion economic recovery legislation next week with the expectation that a House-Senate conference will be convened the following week to negotiate a final bill. Congressional leaders have said they expect to send a final version of the legislation to President Barack Obama by Feb. 16.