Congressman Dave Loebsack (D-IA), a member of the Jobs Task Force, voted on a jobs bill that will create and save jobs in Iowa with targeted investments for highways and transit, school renovation, hiring teachers, police, and firefighters, extending tax credits for small businesses, and funding the kind of job training that will spur economic development. This bill is another piece of the Congressman’s ongoing work to create jobs in Iowa. These investments are fully paid for by redirecting TARP funds from Wall Street to Main Street.

“I believe in a comprehensive approach to moving Iowa and the rest of the country forward. I know that many Iowans and Americans are hurting right now and far too many Americans are worried about the future,” said Congressman Loebsack. “This bill takes funds from Wall Street and brings them back to Main Street, investing in the true drivers of the American economy – teachers, firefighters, policemen, homeowners, and small businesses.”

The bill invests $2 billion in hiring and training programs, including Americorps, youth summer jobs, college work study jobs, and job training in high growth industries, such as green jobs, through community colleges. Congressman Loebsack has been a longstanding advocate for
industry partnerships and workforce development in Iowa and across the county.

“Industry partnerships and workforce development were able to bolster Iowa’s emerging presence in the renewable energy sector, and now, we are one of only two states manufacturing all three major components of a wind turbine,” added Congressman Loebsack. “As we work to move our country forward, we must focus on long-term job training and workforce development efforts that will our economy forward.”

Additionally, the bill includes several key measures that aim to boost some of the key drivers of economic growth. The bill invests $48 billion to help put people back to work rebuilding our crumbling roads and bridges, modernizing public building, and cleaning our water infrastructure. The bill invests an additional $27 billion in hiring teachers, police, firefighters, and job training.

For small businesses, bill extends several Recovery Act initiatives to help America’s small businesses create jobs. This includes eliminating fees on Small Business Administration (SBA) loans to make them more affordable for small businesses, and encouraging banks to lend to small businesses by raising to 90 percent (from 85 percent) the portion of a loan that the Small Business Administration will guarantee.
To aid those hit hardest by the recession, this bill includes emergency relief that extends unemployment benefits and helps with health benefits for those out of work. Not only does this help those families in need, but these provisions generate demand for goods and services in the economy as a whole.