Jobs Plan Impacts California
Washington, DC — The White House has released information about how much money each state would receive as part of the President’s Jobs Plan.
As part of the $447 billion proposal, California would take in $3.9 billion for high speed rail and transit projects. $3.6 billion would go towards restoring law enforcement and teaching positions, totaling 37,000 jobs. $2.8 billion would be spent on improving public school infrastructure. $1.8 billion would be used to rehabilitate and refurbish foreclosed homes and businesses in communities hit hard by the recession. $1.3 billion would be set aside to modernize community colleges across the state.
The President’s payroll tax cut would result in a $1,740 savings for most California households. Employers would see the payroll tax cut in half to 3.1% for first $500 million in wages. The President is also calling for an extension of unemployment benefits, and a “Pathways Back to Work Fund” for residents in need of job training.
The vote on the Jobs Plan is expected to be highly debated. Republicans have come out early stating that it is too expensive, and argue that the last stimulus program was ineffective. The President says that he will ask the Joint Committee to come up with measures to ensure that his proposal is fully paid for and not increase the deficit.