Last night, President Obama outlined his plan to put Americans back to work–the American Jobs Act.
The act includes small business tax cuts, payroll tax cuts, tax credits for hiring veterans and the long-term unemployed, a fund for infrastructure and school improvements, an extension of unemployment benefits, and a fund for summer jobs, subsidized employment, and job training and placement programs.
According to White House officials who spoke on a call with constituents today and who will post more information and state specific fact sheets about the Act at www.whitehouse.gov soon, some of the benefits the plan offers to MA include:
- Approximately 140,000 businesses in the Commonwealth will receive payroll tax cut
- Approximately $850,000,000 in infrastructure improvement funds will come to MA
- Approximately 123,000 long-term unemployed residents will be able to get back to work
- Approximately 9,200 youth and 2,500 adults will benefit from the new Pathways Back to Work fund.