Dear Friend:
A year ago today, President Obama signed into law the American Recovery and Reinvestment
Act. While there is no doubt there is still a long way to go to get our country
back on track, the Recovery Act has helped to halt an economic freefall.
I voted for the Recovery Act at great political peril, but I did so because I thought it
would prevent our country from sliding into a 1929-like Depression. Now there is near
universal agreement among economists that the country would be much worse-off without the
Recovery Act. An analysis
in today’s New York Times rightly acknowledges that the Recovery Act
is not without flaws; however, it cites estimates from the best-known
economic research firms that the bill has added 1.6 million to 1.8 million jobs thus far
and will ultimately impact roughly 2.5 million jobs. The Congressional Budget
Office, an independent agency, considers these estimates to be conservative.
But what does it mean for Pennsylvania? For you?
Pennsylvania expects to receive more than $26 billion from the Recovery Act.
$15.7 billion will flow through state and local governments and nonprofit agencies to
build highways and bridges, employ teachers, police officers and firemen, and develop
housing and alternative energy. Additionally, $11 billion in federal tax credits and
benefits to individuals and businesses will aid those most in need, including helping
Pennsylvanians obtain Medicare, emergency unemployment compensation and food stamps. To
learn more about what the Recovery Act is doing throughout Pennsylvania, please visit
www.recovery.pa.gov
A year later, many Americans are still struggling. Unemployment remains high. We
must continue to focus on putting Americans back to work and helping families and
businesses through these difficult economic times.
As always, I want to hear from you. Please contact me through any one of
my nine offices
located throughout the state and in Washington, or through my website.
Sincerely,
Arlen Specter
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