Iowa could receive more than $1.5 billion from the stimulus bill being considered by the U.S. Senate, according to the office of Sen. Tom Harkin.
This money would create and save jobs, help with budget shortfalls to prevent cuts in health, education and law enforcement, cut taxes for working families and invest in the long-term health of the nation’s economy, Harkin’s office said.
“The economy is shedding an average of 17,000 jobs a day, and new foreclosures average 9,000 a day,” Harkin said. “This bill will create jobs now while also laying the foundation for a stronger economy that works for all Americans in the future. We must act quickly and boldly.”
The stimulus bill, titled the American Recovery and Reinvestment Act, would provide $888 billion in investments and tax cuts nationwide, the Democrat’s office said. Of that total, $694 billion could enter the economy by the end of fiscal year 2010, meaning that 78 percent of the money allocated would reach Iowans and all Americans by Sept. 30, 2010.
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