Last night, President Obama gave his long awaited speech on the $450 billion jobs bill that he is looking to pass through Congress.
The reception to his speech was positive from both Democratic and Republican commentators.
Now all the president has to worry about is whether Republicans will help him out on this bill, or simply blockade him as they’ve done on various other bills throughout his presidency.
Below, we have a Top 5 list of how Obama’s jobs bill will positively affect African Americans.
1. The extension of unemployment insurance will benefit 1.4 million African- Americans and their families. At the same time, the President is proposing bipartisan reforms that will enable that – as these families continue to receive UI benefits – the program is better tailored to support reemployment for the long-term unemployed.
2. Targeted support for the long-term unemployed could help the 1.4 million African- Americans who have been looking for work for more than six months: To help them in their search for work, the President is calling for a new tax credit for hiring the long- term unemployed.
3. A commitment to rebuilding and revitalizing communities across the country will target investments to the communities hardest-hit by the recession. The President’s investments in infrastructure include a school construction initiative with a significant commitment to the largest urban school districts, an investment in revitalizing communities that have been devastated by foreclosures, and a new initiative to expand infrastructure employment opportunities for minorities, women, and socially and economically disadvantaged individuals.
4. Support for subsidized jobs and summer/year-round jobs for African-American youth – for whom unemployment is above 30%. In an environment with an unemployment rate of 32.4% for African-American youths, the President is proposing to build on successful programs like the TANF Emergency Contingency Fund to create jobs and provide training for those hardest-hit by the recession.
5. An extension and expansion of the payroll tax cut for nearly 20 million African- American workers. By extending the payroll tax cut for employees next year and expanding it to cut payroll taxes in half, the President’s plan will help increase the paychecks of nearly 20 million African-American workers – providing them with more money to spend in their communities.