Hoyer: One Year In, Recovery Act Working to Boost Economy, Invest in Maryland

February 17, 2010
Press Release

WASHINGTON, DC - One year after the American Recovery and Reinvestment Act was signed into law, data show that the measure has succeeded in helping to avert an economic meltdown and is working in Maryland and across the country to save and create jobs and lay the foundation for a lasting economic recovery. On today's one-year anniversary, Congressman Steny H. Hoyer (D-MD) released a report providing a snapshot of the impact the Recovery Act has had on Maryland and the overall economic picture since it was enacted.

"One year ago, when the economy was still reeling from the worst economic plunge we have seen since the Great Depression, Congress and the new President acted immediately to enact the Recovery Act, which has helped put people back to work rebuilding our economy and has invested in the future of our country and our state," stated Rep. Hoyer. "The Recovery Act has meant significant resources for Maryland, working in a variety of ways to create opportunities for workers and small businesses, to help preserve jobs and services in education, public safety and elsewhere, and to invest heavily in the future of our state - from roads and research to clean water and clean energy." 

Based on data reported through Recovery.gov - an unprecedented effort to track government spending and ensure transparency - as of January 2010, a total of $4.622 billion has been obligated to public and private entities in the State of Maryland to help save and create jobs, grow the state's economy and invest in key priorities, such as education, public safety and rebuilding infrastructure. To help offset the effects of the recession, 2.1 million Maryland families have received tax cuts - which the President's budget intends to extend - and 250,000 Maryland workers have benefitted from Unemployment Insurance. Thousands of jobs in the state have been created or saved, and Maryland's unemployment rate of 7.2% continues to be substantially below the national rate of 9.7%.

"We are making real progress toward recovery as a result of actions taken to reinvest and rebuild-but as long as our unemployment rate remains unacceptably high, it is not enough," stated Rep. Hoyer. "That is why Congress is working hard to pass a jobs bill that can help small businesses hire workers and access credit, as well as fund more vital projects to create jobs. The pain of unemployment is still felt in every district represented in Congress, so it is vital that we work together in a bipartisan way to find job-creating solutions."

Other Recovery Act Resources

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Issues: Jobs & the Economy