Hoyer Statement on President's Signing of American Recovery and Reinvestment Act

WASHINGTON, DC -Congressman Steny H. Hoyer (D-MD) released the following statement today after President Obama signed into law the American Recovery and Reinvestment Act to create an estimated 66,000 jobs in Maryland, cut taxes for more than two million Marylanders and send $3.8 billion to the State to invest in job-creating infrastructure projects; preserve education funding and key public services; and provide nutrition, unemployment, and health care assistance to families in economic need.

"President Obama's signing of the American Recovery and Reinvestment Act set in motion today an aggressive plan to put Americans back to work and jumpstart our ailing economy. In Maryland, we will see the impact of this plan in tax cuts for individuals and small businesses; investments in infrastructure, education and critical public services; and assistance for Marylanders squeezed the most in this economic downturn.

"Just as the recession did not begin overnight, it will not disappear in the days or weeks immediately after the economic recovery is law. But along with plans to restore the flow of credit in our lending system and ramped up efforts to mitigate home foreclosures, we expect it will help stave off a deeper crisis, set the stage for economic recovery and lay the groundwork for long-term growth."

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