On Friday, Senator Mary Landrieu, D-La., announced the passing of the Stimulus package, her support for it and described how it would help Louisiana. Senator Landrieu and Rep. Charlie Melancon were the only members of the Louisiana delegation voting for it. Below is an overview of the Stimulus, what it means for Louisiana from the perspective of Senator Mary Landrieu:
The bill will create and sustain millions of private sector jobs, strengthen national infrastructure and reduce taxes for families and businesses. It will soon be signed into law by President Barack Obama.
The legislation appropriates about $2 billion for Louisiana projects and programs, and the state will benefit from additional tax relief for individuals and small businesses. Infrastructure investments include highways, ports, dams, water systems and public housing. The state will also receive $718 million in State Stabilization Funds, which allow state and local governments that are suffering from budget shortfalls to pay for education programs and other services. In addition, Sen. Landrieu shepherded into the package $752 million in relief for agricultural communities impacted by 2008 disasters, and provisions to free up hurricane recovery funds and remove the $5 million cap for community disaster loans.
“I am proud of our bipartisan work in the Senate to trim out some of the fat and add some muscle to this final bill,” Sen. Landrieu said. “It is very important that the federal government act boldly to stem the tide of job loss and the weakening economy. We can do that by making smart investments in the future, creating and sustaining jobs and keeping people in their homes. This legislation now creates or saves 50,000 jobs in Louisiana over the next two years, with over 90 percent of those jobs being in the private sector.
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