Miller Jobs Bill Will Increase Revenues, Reduce Safety Net Spending, Independent Analysis Shows
WASHINGTON, D.C. – Legislation to create and save jobs in local communities would be partially offset by almost $39 billion in increased tax revenues and a reduction in social spending, according to an independent analysis released today by the Economic Policy Institute. EPI also calculated that the legislation would indirectly create an estimated 150,000 jobs – jobs supported by the spending of workers whose jobs were directly created or saved.
“Our nation’s budding economic recovery can ill afford another round of significant layoffs,” said U.S. Rep. George Miller (D-CA), lead sponsor of the Local Jobs for America Act (H.R. 4812) and chair of the House Education and Labor Committee. “This analysis confirms that keeping Americans working is more beneficial to our economy than handing them a pink slip.”
To prevent cuts to vital local services, part of the legislation would provide $75 billion over two years directly to local communities to stop planned cuts or to hire back 675,000 workers for local services. EPI’s analysis of this part of the legislation found that almost $39 billion of the cost would be offset because it would keep taxpayers on payrolls and reduce spending on unemployment and other social safety net benefits.
“[The Local Jobs for America Act’s] net cost will be much lower than advertised as it puts people back to work and turns them into tax-payers rather than benefit-collectors,” the EPI analysis concluded.
The bill also would provide $24 billion to states to help support 250,000 education jobs, put 5,500 law enforcement officers on the beat, and retain, rehire, and hire firefighters. The Local Jobs for America Act would also fund approximately 50,000 additional private-sector on-the-job training positions to help local businesses put people back to work. Workers would be able to acquire core job skills and important work experience for private employers.
Job estimates released by the Education and Labor Committee.
More than 300 national and local organizations have announced their support of the Local Jobs for America Act to House leadership.
Next Article