The Jobs for Main Street Act of 2010, H.R. 2847

December 17, 2009

The House introduction of the anticipated “jobs package” provides states with sizeable infrastructure and potential job-saving initiatives to help weather the current economic lull. 

The Jobs for Main Street Act of 2010 contains both emergency and non-emergency funding that is partly covered by savings from the Troubled Asset Relief Program (TARP).  Included within H.R. 2847 is the enhanced Medicaid match through June 2010 along with a variety of components previously targeted in the American Reinvestment and Recovery Act (ARRA) to counteract unemployment and state revenue losses. 

Other provisions included in the legislation is an extension of the Surface Transportation Authorization and allowing the Small Business Administration to continue temporary loan guarantee authorities through fiscal year 2010.  The Act expressly notes that all funds must be obligated by September 30, 2010, and will be subject to all requirements of Buy American within ARRA.

H.R. 2847 is one of several recent House measures to focus on job creation, public sector improvements and current laws about to expire.  The defense appropriations (H.R. 3326) includes add-ons such as delaying a scheduled cut in the Medicare provider payments, providing extended unemployment benefits, adding six months to COBRA benefits, providing states with $400 million for administration of the Supplemental Nutrition Assistance Program and extending authority for two small business loan guarantee programs.  These provisions are all extended until February 28, 2010. 

Both H.R. 2847 and H.R. 3326 were passed by the House on December 16.  While the defense bill will likely pass the Senate and is expected to be signed before the end of the continuing resolution on December 23, the Senate is not expected to take-up the jobs bill before the end of the calendar year.

Detailed below are key provisions included within the Jobs for Main Street Act.

Medicaid and other Health Provisions

• $23.5 billion to extend enhanced federal Medicaid match funds through June 2010
• $12.3 billion to extend from 9 to 15 months the 65% COBRA insurance subsidy; the job lost eligibility date is extended to June 30, 2010

Transportation 

• $27.5 billion to make additional highway infrastructure investments
• $8.4 billion for public transportation investments, including $6.15 billion for urban and rural formula grants
• $800 million for capital grants for Amtrak
• $500 million for airport improvement projects

Energy and Water

• $2 billion for the Innovative Technology Loan Guarantee Program
• $1 billion for the Clean Water State Revolving Fund
• $1 billion for the Safe Drinking Water State Revolving Fund
• $715 million for environmental restoration and flood protection by the Corps of Engineers

Education

• $23 billion for an Education Jobs Funds for states (through the ARRA fiscal stabilization fund)
• $4.1 billion for school renovation grants

Housing

• $1 billion for the National Housing Trust Fund
• $1 billion for the Public Housing Capital Fund

Labor and Workforce

• $41 billion to extend expanded unemployment benefits
• $1.18 billion for law enforcement jobs (primarily COPS program)
• $750 million for grants for job training in high growth fields
• $500 million for summer youth employment
• $354 million for small business loans