Friday, September 9, 2011

The American Jobs Act in Massachusetts

Below you'll find a fact sheet that details specifically how the American Jobs Act will affect Massachusetts residents
The American Jobs Act: Massachusetts Fact Sheet

Tax Cuts
  • In Massachusetts, 140,000 firms will receive a payroll tax cut under the American Jobs Act.
  • The President's plan will expand the payroll tax cut passed last December by cutting workers payroll taxes in half next year. A typical household in Massachusetts with a median income of around $59,000, will receive a tax cut of around $1,830.
  • Of the investments for highway and transit modernization projects, the President's plan will make immediate investments of at least $850,750,000 in Massachusetts that could support a minimum of approximately 11,000 local jobs.
  • The President is proposing to invest $35 billion to prevent layoffs of up to 280,000 teachers, while supporting the hiring of tens of thousands more and keeping cops and firefighters on the job. These funds would help states and localities avoid and reverse layoffs now, and will provide $591,800,000 in funds to Massachusetts to support up to 6,300 educator and first responder jobs.
  • The President is proposing a $25 billion investment in school infrastructure that will modernize at least 35,000 public schools - investments that will create jobs, while improving classrooms and upgrading our schools to meet 21st century needs. Massachusetts will receive $378,600,000 in funding to support as many as 4,900 jobs.
  • The President is proposing to invest $15 billion in a national effort to put construction workers on the job rehabilitating and refurbishing hundreds of thousands of vacant and foreclosed homes and businesses. Massachusetts could receive about $40,400,000 to revitalize and refurbish local communities, in addition to funds that would be available through a competitive application.
  • The President's plan proposes $5 billion of investments for facilities modernization needs at community colleges. Massachusetts could receive $68,800,000 in funding in the next fiscal year for its community colleges.
Helping the Unemployed
  • Drawing on the best ideas of both parties and the most innovative states, the President is proposing the most sweeping reforms to the unemployment insurance (UI) system in 40 years to help those without jobs transition to the workplace. This could put the 123,000 long-term unemployed workers in Massachusetts back to work.
  • Alongside these reforms, the President is reiterating his call to extend unemployment insurance, preventing 49,300 people looking for work in Massachusetts from losing their benefits in just the first 6 weeks.
  • The President is proposing a new Pathways Back to the Work Fund to provide hundreds of thousands of low-income youth and adults with opportunities to work and to achieve needed training in growth industries. Pathways Back to Work could place 2,500 adults and 9,200 youths in jobs in Massachusetts.

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