Saturday, February 20, 2010

One Year Later California Democrats Praise Recovery Act

Bill Has Funded Thousands of Jobs in California and Saved Economy From Total Collapse

Sacramento — One year ago this week, President Obama signed into law the American Recovery and Reinvestment Act. Since then it has funded up to two million jobs nationwide, including 70,745 jobs in California, and saved the nation’s economy from total collapse. As a result of the Recovery Act, California has received $21.5 billion in additional federal funding, with more than $7.7 billion received thus far.

“The American Recovery and Reinvestment Act, signed into law by President Obama a year ago this week, has brought tens of thousands of jobs to California and helped to save our economy from total collapse,” said Timothy Paulson chair of the labor caucus for the California Democratic Party.

“California’s working families have seen a tax break because of this bill, and small businesses have received loans to help them build their businesses and create more jobs. President Obama and our Democratic leaders in Congress are working around the clock to get our economy back on track. There is still much work to be done to create more jobs here in California but it’s clear that the Recovery Act is doing its job.”

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