Opinion Source Information:
From Oberstar's Website:
Landmark legislation to create and save 3.5 million jobs is expected to be on President Obama’s desk to be signed into law by Monday. Last night, House and Senate conferees completed the final version of the American Recovery and Reinvestment Act. The compromise legislation is expected to win approval in both houses of Congress in time to be sent to the White House by President’s Day.
“First and foremost, this is a jobs bill. It will put Americans to work at jobs that pay a living wage; by this June, we could see as many as one million new jobs nationwide,” said Congressman Jim Oberstar. “In Minnesota, the road and bridge investments alone will generate over 15,000 jobs in the next year.”
The White House estimates that the legislation will create or save 66,000 jobs in Minnesota. However, a recent analysis of the recovery bill by Moody’s Economy.com concluded that the economic recovery bill could create as many as 91,000 jobs in Minnesota by 2010, and hold unemployment down by 1.8 percent. “Unemployment in Minnesota is 7.6 percent, and if we don’t take action, unemployment levels could climb into the double digits,” said Oberstar. “The recovery bill will hold unemployment down, put people to work, and give them the money to pay bills, mortgages and educate their children. That is the economic activity that will help our economy recover sooner rather than later.”