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Tuesday, January 27, 2009

(Updated) House Delegation Releases New Mexico-Specific Economic Stimulus Numbers

Update: On Tuesday night, the House Rules Committee acted to select 11 amendments to H.R. 1 to be voted upon by the full House in Wednesday's debate on the bill. Rep. Harry Teague's proposed amendment is one of those that survived out the more than 100 that were offered. You can see the list at Open Congress.
U.S. Representatives Harry Teague (D, NM-02), Martin Heinrich (D, NM-01) and Ben Ray Luján (D, NM-03) today released New Mexico-specific figures from the proposed American Recovery and Reinvestment Plan. The House will debate the Recovery package (H.R.1) on Wednesday today. The $825 billion plan would put an estimated $329 million into New Mexico's K-12 schools, $281 million into highway and bridge projects, and $28.5 million into the Clean Water State Revolving Fund. All three members of New Mexico's House Delegation plan to support the legislation.

The Recovery Plan also includes significant middle class tax cuts including the Making Work Pay Credit, which provides a tax credit of $500 per worker for single workers earning up to $100,000 and $1000 for married couples earning up to $200,000. There are an estimated 684,000 workers eligible for the credit in New Mexico.

See this CHART (pdf), American Recovery and Reinvestment Act - New Mexico Specific Figures, with figures provided by the Ways and Means, Appropriations, and Energy and Commerce Committees.

"My constituents in Southern New Mexico have been hit hard by the recent downturn in the economy and this Recovery Package provides direct relief," said Congressman Harry Teague. "By providing tax cuts that will benefit the majority of New Mexico's working families as well as infrastructure investment that will create jobs and modernize our infrastructure, this plan gives our economy an immediate shot in the arm."

"This bold recovery and jobs package will create good jobs for the 1st Congressional District and provide much needed tax relief for working families," said Representative Martin Heinrich. "The people of Central New Mexico work hard and this economic downturn has been difficult for far too many. With the immediate tax relief and investment in our infrastructure that this plan provides I am hopeful that my constituents will feel swift economic relief."

"The people of New Mexico need relief in these difficult economic times," said Rep. Ben Ray Luján. "This recovery package will help communities and individuals who need help the most. The recovery plan focuses on job creation through infrastructure projects, renewable energy development, school modernization and other important projects that will help many communities and put people back to work. I look forward to maintaining an open dialogue with local leaders as the recovery plan moves forward and begins to impact the people of New Mexico."

The American Recovery and Reinvestment Plan will include a historic level of accountability and transparency, and will include no earmarks or pet projects. Investments funded, total costs, and program managers will all be posted publicly on a website created by President Obama, and the Government Accountability Office, Inspectors General, and a new Accountability and Transparency Board will review all funding decisions, striving to prevent waste and fraud.

Proposed amendments to the bill are being heard today in the House Rules Committee, and then the Committee will vote on the legislation. Debate on the bill before the full House is set to begin tomorrow. You can read about the proposed amendments here on Open Congress, including this one, sponsored by Rep. Harry Teague:

#89 – Would require that the Recovery.gov website contain links and other information on how to access job information created at or by entities receiving funding under the bill; including links to local employment agencies, state, local, and other public agencies receiving recovery funds, and private firms contracted to perform work funded by the bill. [Teague (D-NM)]

The bill is expected to pass the House as early as tomorrow, be heard in the Senate next week and will then be sent to President Obama.

January 27, 2009 at 11:34 AM in Economy, Populism, NM Congressional Delegation, Rep. Ben Ray Lujan, Rep. Harry Teague (NM-02), Rep. Martin Heinrich (NM-01) | Permalink


Now I do appreciate this start at economic revitalization. But..I have a couple questions: what is State Fiscal Stabilization Fund at $419 mil.??? This is the largest dollar value on the itemized chart. Compare this number to early childhood programs getting 23.7 mil.
Final realization of these stimulous numbers: NM is receiving a little over 1 billion of the entire 800 billion. Let's see, like a half of a week of what is spent in Iraq.
So I know it is a start. But, I am having a hard time jumping up and down and seeing how this will affect my life. Just asking?

I say less tax cuts and more funding of projects to put people to work.

Posted by: mary ellen | Jan 27, 2009 6:57:20 PM