Jobs for Main Street Act

The country is struggling to overcome the longest and deepest economic downturn since the Great Depression.  With eight million jobs lost and 15 million people still out of work, the number of unemployed has more than doubled in the last two years.  Main Street has been hit especially hard.  That is why the Jobs for Main Street Act (H.R. 2847) redirects $75 billion in Troubled Asset Relief Program (TARP) savings from Wall Street to Main Street to fund infrastructure and job investments, and provide additional emergency funding to help families who are suffering. 

The bill would invest $48 billion to help put people back to work rebuilding our crumbling roads and bridges, modernizing public buildings, and cleaning our air and water.  It would also dedicate $25 billion to the hiring of teachers, police, and firefighters.  Additionally, the Jobs for Main Street Act would support vital lending programs to small businesses, a critical component of the nation’s economic health.  Finally, the bill would extend emergency relief to those hit hardest by the recession.  It would extend unemployment insurance and COBRA benefits and would also provide additional funds for states to administer Medicaid.