WASHINGTON - Vice President Joe Biden said Feb. 6 that more than 400,000 jobs will be created over the next two years nationwide if the nation invests in improving and upgrading our nations infrastructure, including mass transit systems, highways, bridges and ports.
Biden said the American Recovery and Reinvestment Plan includes the largest investment increase at least $100 billion in our nations infrastructure, including roads, bridges and mass transit systems, since the creation of the national highway system in the 1950s.
The White House released the following report to illustrate, using Maryland as a case study example, the impact investing in infrastructure will have on our nation.
The American Recovery and Reinvestment Plan: Creating Good Jobs by Modernizing Our Infrastructure
The American Recovery and Reinvestment Plan is a nationwide effort to create jobs, jumpstart growth and transform our economy for the 21st century. Across the country, this plan will help businesses create jobs and families afford their bills while laying a foundation for future economic growth in key areas like health care, clean energy, education and a 21st century infrastructure.
Impact of Infrastructure Investments nationally
A key driver of job creation in the Recovery and Reinvestment Plan is the largest investment in Americas crumbling roads, bridges and transit lines since the creation of the national highway system. The infrastructure investments in the plan are designed to fund ready-to-go projects that can get money out into the economy quickly, while addressing longstanding infrastructure backlogs that are creating security risks for our citizens and a drag on economic growth.
At least $100 billion to improve and upgrade our nations infrastructure, including mass transit systems, our highways, bridges and ports. [Source: White House Estimate]
Create or save 400,000 jobs over the next two years. Jobs will be created by improving our mass transit systems, rebuilding roads, bridges, waterways, ports and more. [Source: White House Estimate based on Romer and Bernstein, The Job Impact of the American Recovery and Reinvestment Plan. January 9, 2009.]
Impact of Infrastructure Investments in Maryland
This historic infrastructure investment will provide direct, immediate support to Maryland, including:
At least $400 million to improve Marylands highways, $100 million to upgrade and expand transit systems in Maryland and $150 million to invest in water and sewer projects in the state. [Source: White House Estimate]
Funding sufficient to modernize at least 138 schools in Maryland so our children have the labs, classrooms and libraries they need to compete in the 21st century economy. [Source: White House Estimate]
National overall impact of the American Recover and Reinvestment Plan:
The recovery plan will create and save jobs in the near future while addressing long-term needs that are critical to laying the foundation for a strong economic future. Specifically it will:
Create or save three to four million jobs over the next two years. Independent analyses by Macroeconomic Advisers and Moodys have confirmed that the recovery plan will meet this jobs goal. Jobs created will be in a range of industries from clean energy to health care, with over 90 percent in the private sector.
Spend out at least 75 percent of the package in the first 18 months after passage. By including major fast-spending provisions like tax cuts for middle class families, measures to avoid state health care cuts, and temporary expansions of unemployment insurance, food stamps and health care for unemployed workers, the package will spend out at least 75 percent of its total commitment within the first 18 months after passage. The administration will work with Congress to refine this package to ensure that it meets this 75 percent goal.
Double renewable energy generating capacity over three years, creating enough renewable energy to power six million American homes.
Computerize every Americans health record in five years, reducing medical errors and saving billions of dollars in health care costs.
Launch the most ambitious school modernization program on record, sufficient to upgrade 10,000 schools.
Enact the largest investment increase in our nations roads, bridges and mass transit systems since the creation of the national highway system in the 1950.
Overall impact of the American Recover and Reinvestment Plan on Maryland:
The national economic crisis has devastated states across the country, and Maryland is no exception. Unemployment in Maryland is at a 15-year high, up 60 percent over the past year. In just the last four months, the state has lost more than 30,000 jobs. The recovery and reinvestment plan is urgently needed to help stem this downturn and jumpstart job creation across the state. Overall, the plan will:
Create or save 70,000 jobs over the next two years. Jobs created will be in a range of industries from clean energy to health care, with over 90 percent in the private sector. [Source: White House Estimate based on Romer and Bernstein, The Job Impact of the American Recovery and Reinvestment Plan. January 9, 2009.]
Jobs created or saved include about 9,500 in Marylands 5th Congressional District, which includes Laurel.
Provide a Making Work Pay tax cut of up to $1,000 for 2,210,000 Maryland workers and their families. The plan will make a down payment on the Presidents Making Work Pay tax cut for 95 percent of workers and their families, designed to pay out immediately into workers paychecks. [Source: White House Estimate based on IRS Statistics of Income]
