Senator Mark Pryor Press Releases

WASHINGTON D.C. – Senator Mark Pryor said the economic recovery package, signed into law today by President Obama, provides multiple tools to help lift up the economy in Arkansas and around the nation. He said the package combines tax incentives for working families and small businesses with investments in Arkansas’ infrastructure.

“President Obama’s signature on this economic recovery package comes amid new layoff and bankruptcy announcements throughout Arkansas. We now have additional tools to lift up families and businesses who are struggling in today’s ailing economy,” Pryor said. “I’m optimistic this package of tax cuts and job-creating investments will help stop the bleeding and provide a path toward economic recovery.”

The Obama Administration expects the American Recovery and Reinvestment Act to create or save 3.5 million jobs over the next two years, including 31,000 jobs in Arkansas. Ninety percent of the jobs created will be in the private sector.

According to the Senate Appropriations Committee, of which Pryor is a member, highlights of the economic recovery package for Arkansas include:

Infrastructure and Science:

· $24.7 million through the Drinking Water State Revolving Fund to address the backlog of drinking water infrastructure needs

· $26 million through the Clean Water State Revolving Fund to address the backlog of clean water infrastructure needs

· $351.5 million in Highway Funding

· $28.4 million in Transit Formula Funding for investments in mass transit

· $29.2 million through the Public Housing Capital Fund to enable local public housing agencies to address a backlog in capital needs

· $20.7 million in HOME Funding to enable state and local government, in partnership with community-based organizations, to acquire, construct, and rehabilitate affordable housing and provide rental assistance to low-income families

· $11.3 million through the Homelessness Prevention Fund

Education and Training:

· $361.3 million through the State Fiscal Stabilization Fund to local school districts and public colleges and universities

· Increases Pell Grants for the 75,000 Pell Grant recipients in Arkansas

· $112 million for Special Education Part B State Grants to improve educational outcomes for individuals with disabilities, raising the federal contribution to nearly 40 percent

· $6.6 million in education technology funds to purchase modern computers and software and provide professional development to ensure technology is used effectively in the classroom

· $134.1 million for Title I Education for the Disadvantaged

· $3.5 million in State Employment Service Grants to match unemployed individuals to job openings through state employment service agencies

· $7.6 million in Dislocated Workers State Grants, particularly for grants that support immediate strategies for communities to meet their need for skilled workers

· $5.1 million for Department of Labor’s Adult State Grants

· $12.2 million for Department of Labor’s Youth State Grants

· $6.2 million for Vocational Rehabilitation to help individuals with disabilities prepare for and sustain gainful employment

Energy:

· $39.2 million through the State Energy Program

· $50 million through the Weatherization Assistance Program

Helping Struggling Families:

· $1 million for the National School Lunch Program

· $1.1 million through the Emergency Food Assistance Program

· $223 million in Supplemental Nutrition Assistance Program (formerly Food Stamps)

· $1 million for the Emergency Food and Shelter Program, which provides grants to nonprofit and faith-based organizations at the local level to supplement their food and shelter programs

· $25.1 million in Child Care and Development Block Grants to provide child care services for low-income families so parents can work

· $7.2 million for Head Start to allow additional children to participate

· $13.7 million in Community Services Block Grants to local community action agencies who provide services such as housing and mortgage counseling, job skills training, food pantry assistance, as well as benefits outreach and enrollment

· $857,277 for Senior Meals Programs. Some programs are reducing meal deliveries or closing meal sites due to increased food and fuel costs.

· $6.2 million for supplemental grants under the Temporary Assistance to Needy Families (TANF) program

Law Enforcement

· $22.1 million in Byrne/JAG grants to support law enforcement efforts

· $726,610 in Internet Crimes Against Children Grants

· $1.9 million in Violence Against Women Grants

Extended Unemployment Insurance:

· The Department of Labor estimates that Arkansas could receive $151 million in new funding if Arkansas enacts certain modernization incentives that the legislation would provide. This means that an additional $100 in unemployment insurance benefits will be offered to approximately 185,000 workers who have lost their jobs in this recession.

Key Tax Relief for Working Families and Small Businesses

According to the White House and Senate Finance Committee, the following are examples of tax provisions that will help Arkansas businesses and families:

· 960,000 Arkansans will receive a refundable tax credit of up to $400 per worker or $800 for married, working couples. Taxpayers can receive the benefit through a reduction of income tax withheld from their paychecks, or by claiming the credit on their tax returns.

· Seniors, disabled veterans, and SSI recipients will receive a one-time payment of $250.

· Unemployed: Suspends the federal tax on the first $2,400 of unemployment benefits.

· College Students: Provides a $2,500 tax credit for an additional 44,000 families in Arkansas to help cover tuition and related expenses.

· Homebuyers: Provides an $8,000 tax credit for homes purchased before Dec. 1, 2009 for first-time homebuyers.

· Vehicles: Allows taxpayers to deduct State, local and excise taxes on new vehicles bought in 2009.

· AMT Relief: Protects 107,000 Arkansas families from the Alternative Minimum Tax.

· Small Business: Provides an extension of the increase in small business expensing; allows a new exclusion on the gain from the sale of certain small business stock; and provides incentives to hire unemployed veterans and disconnected youth. Reduces or eliminates various lender and borrower fees, bolsters funding for the Small Business Administration’s microloan program, increases certain loan sizes, and increases the SBA-backed surety amount from $2 million to $5 million.

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		February 17, 2009 Press Release Pryor: Arkansas to Benefit from Economic Recovery Package Senator Applauds President's Signature on Job-Creating Legislation WASHINGTON D.C. – Senator Mark Pryor said the economic recovery package, signed into law today by President Obama, provides multiple tools to help lift up the economy in Arkansas and around the nation. He said the package combines tax incentives for working families and small businesses with investments in Arkansas’ infrastructure. “President Obama’s signature on this economic recovery package comes amid new layoff and bankruptcy announcements throughout Arkansas. We now have additional tools to lift up families and businesses who are struggling in today’s ailing economy,” Pryor said. “I’m optimistic this package of tax cuts and job-creating investments will help stop the bleeding and provide a path toward economic recovery.” The Obama Administration expects the American Recovery and Reinvestment Act to create or save 3.5 million jobs over the next two years, including 31,000 jobs in Arkansas. Ninety percent of the jobs created will be in the private sector. According to the Senate Appropriations Committee, of which Pryor is a member, highlights of the economic recovery package for Arkansas include: Infrastructure and Science: · $24.7 million through the Drinking Water State Revolving Fund to address the backlog of drinking water infrastructure needs · $26 million through the Clean Water State Revolving Fund to address the backlog of clean water infrastructure needs · $351.5 million in Highway Funding · $28.4 million in Transit Formula Funding for investments in mass transit · $29.2 million through the Public Housing Capital Fund to enable local public housing agencies to address a backlog in capital needs · $20.7 million in HOME Funding to enable state and local government, in partnership with community-based organizations, to acquire, construct, and rehabilitate affordable housing and provide rental assistance to low-income families · $11.3 million through the Homelessness Prevention Fund Education and Training: · $361.3 million through the State Fiscal Stabilization Fund to local school districts and public colleges and universities · Increases Pell Grants for the 75,000 Pell Grant recipients in Arkansas · $112 million for Special Education Part B State Grants to improve educational outcomes for individuals with disabilities, raising the federal contribution to nearly 40 percent · $6.6 million in education technology funds to purchase modern computers and software and provide professional development to ensure technology is used effectively in the classroom · $134.1 million for Title I Education for the Disadvantaged · $3.5 million in State Employment Service Grants to match unemployed individuals to job openings through state employment service agencies · $7.6 million in Dislocated Workers State Grants, particularly for grants that support immediate strategies for communities to meet their need for skilled workers · $5.1 million for Department of Labor’s Adult State Grants · $12.2 million for Department of Labor’s Youth State Grants · $6.2 million for Vocational Rehabilitation to help individuals with disabilities prepare for and sustain gainful employment Energy: · $39.2 million through the State Energy Program · $50 million through the Weatherization Assistance Program Helping Struggling Families: · $1 million for the National School Lunch Program · $1.1 million through the Emergency Food Assistance Program · $223 million in Supplemental Nutrition Assistance Program (formerly Food Stamps) · $1 million for the Emergency Food and Shelter Program, which provides grants to nonprofit and faith-based organizations at the local level to supplement their food and shelter programs · $25.1 million in Child Care and Development Block Grants to provide child care services for low-income families so parents can work · $7.2 million for Head Start to allow additional children to participate · $13.7 million in Community Services Block Grants to local community action agencies who provide services such as housing and mortgage counseling, job skills training, food pantry assistance, as well as benefits outreach and enrollment · $857,277 for Senior Meals Programs. Some programs are reducing meal deliveries or closing meal sites due to increased food and fuel costs. · $6.2 million for supplemental grants under the Temporary Assistance to Needy Families (TANF) program Law Enforcement · $22.1 million in Byrne/JAG grants to support law enforcement efforts · $726,610 in Internet Crimes Against Children Grants · $1.9 million in Violence Against Women Grants Extended Unemployment Insurance: · The Department of Labor estimates that Arkansas could receive $151 million in new funding if Arkansas enacts certain modernization incentives that the legislation would provide. This means that an additional $100 in unemployment insurance benefits will be offered to approximately 185,000 workers who have lost their jobs in this recession. Key Tax Relief for Working Families and Small Businesses According to the White House and Senate Finance Committee, the following are examples of tax provisions that will help Arkansas businesses and families: · 960,000 Arkansans will receive a refundable tax credit of up to $400 per worker or $800 for married, working couples. Taxpayers can receive the benefit through a reduction of income tax withheld from their paychecks, or by claiming the credit on their tax returns. · Seniors, disabled veterans, and SSI recipients will receive a one-time payment of $250. · Unemployed: Suspends the federal tax on the first $2,400 of unemployment benefits. · College Students: Provides a $2,500 tax credit for an additional 44,000 families in Arkansas to help cover tuition and related expenses. · Homebuyers: Provides an $8,000 tax credit for homes purchased before Dec. 1, 2009 for first-time homebuyers. · Vehicles: Allows taxpayers to deduct State, local and excise taxes on new vehicles bought in 2009. · AMT Relief: Protects 107,000 Arkansas families from the Alternative Minimum Tax. · Small Business: Provides an extension of the increase in small business expensing; allows a new exclusion on the gain from the sale of certain small business stock; and provides incentives to hire unemployed veterans and disconnected youth. Reduces or eliminates various lender and borrower fees, bolsters funding for the Small Business Administration’s microloan program, increases certain loan sizes, and increases the SBA-backed surety amount from $2 million to $5 million. ###