September 8, 2011

Putting Americans Back to Work

Tonight, President Obama unveiled the “American Jobs Act” – a proposal that will put Americans back to work immediately.

The set of ideas proposed in the American Jobs Act have bipartisan support – from cutting the payroll tax cut in half for 98 percent of businesses, to preventing 280,000 layoffs of teachers and first responders, to allowing more Americans to refinance their mortgages at today’s near 4 percent interest rates, which can put more than $2.000 a year in a family ‘s pocket.

To ensure that the American Jobs Act is fully paid for, the President is calling for increasing the Joint Committee deficit reduction total by more than the cost of this plan.

One of most innovative components of the American Jobs Act is a new “Project Rebuild” – which, if enacted by Congress, will put people to work rehabilitating homes, businesses and communities, leveraging private capital and other public-private collaborations.

Project Rebuild will create nearly 200,000 jobs, and at the same time stabilizing home prices in neighborhoods hard hit by foreclosures.

Already, existing neighborhood stabilization efforts enacted by Congress over the last three years since the housing crisis began have created nearly 100,000 jobs and addressed nearly 45,000 vacant and abandoned properties.

These efforts have made a difference from Brooklyn Park, Minnesota to the La Puente suburb outside Los Angeles.

In Hernando County, Florida, they’ve not only helped families like Sandy and Socorro Beiro move in to once-foreclosed homes in hard-hit places.

Just as importantly, they’ve provided a boost to hard-hit industries, helping builders like Dudley Hampton keep construction workers on the job and giving real estate agents like Jackie King the opportunity to show and sell homes once again.

Project Rebuild would build on this success with a few important innovations based on lessons learned: for example, by encouraging more private sector participation and allowing the rehabilitation of commercial properties, while forging stronger partnerships with non-profit organizations.

Project Rebuild is fundamentally an investment not just in hard hit places but also in the families who have watched their home values plummet on average by $5,000-to-$10,000 simply because they live on a block with a foreclosure sign.  Its inclusion in the American Jobs Act reflects President Obama’s belief that rebuilding neighborhoods is essential to rebuilding our economy.

The American people know that the economic crisis and the deep recession weren’t created overnight – and they won’t be solved overnight either.

But with bipartisan, innovative solutions like Project Rebuild, the American Jobs Act is something that Congress can do to create more jobs and put more money in people’s pockets right now.  That’s what President Obama is proposing to do – and that’s what it will take to get our economy moving again.


15 Responses to Putting Americans Back to Work

  1. Pingback: Morning Links: Hire Me - Housing Complex - Washington City Paper

  2. I KNOW I AM (30) older than our president. but have not the education that President Obahma but he has some great ideas if we Republicans were smart enough to burry the hatchet, and work to-gather. IT IS TIME TO STOP THIS BICKERING GETTING DOWN TO BUSINESS OF RESTORING THE AMERICA OF PREVOUS GENERATIONS, SAY BEFORE THE 1940s

    • I am in total favor of this Bill with my being a BPI certified Energy Auditor and the provision in the bill to make schools and properties more energy efficient and remodeling of homes. I hope and pray that the Republicans will not make this a political issue but do what is best for the United States and pass this bill with greatest speed..From Phoenix, Arizona


  3. Pingback: Obama Program Calls for $15B for Foreclosure Rehab | Cleanout Masters

  4. Pingback: Obama’s proposal and foreclosures | Lake Chelan Foreclosures, Short Sales & REOs

  5. This is just another sales job on a doomed-to-fail redistribution policy. In my area, NSP funds have been used by the City to buy 5-year old homes in new tracts, and also to put granite kitchens in 40 year old starter homes. The City is not even repairing the landscaping, so the neighbors still have to look at blight. As if that wasn’t enough, the over-improved old houses and high-end newer houses are being subsidized to people who can’t afford to pay for them in the first place. What a poke in the eye to people who are responsible enough to pay their mortgage (and their taxes!). Get out of the way, Obama!! Let private investors flip these homes! They are far more capable and deliver a better product than government-run programs ever will. Besides which, they employ a lot of folks – legit!

  6. first were is 15 billion coming from a country looking for more fair trade address the real problem prosperity for poverty that is what america has been trading since Regain, Kennedy and the rest of our fine government jumped on to fair trade what are they thinking even a small paying job of $8.00 hr is being traded for 80 cents hr hard to blaim at company that is being incur-aged to move over sea’s they get the same for there product simply make more till the american worker can not afford to perchance it any more I wonder how many company’s our reps and president has invested in ? I have even heard Wall Mart incur-ages company’s to move so they can supply them the profit margin the expect when selling something or they find some one how will ?

  7. I agree with you. I purchased a foreclosed HUD home with a FHA K loan and it is a nightmare getting your funding. I did the work myself acting as General Contractor and upgraded the landscaping, appliances and HVAC and electrical to meet todays codes. I did this for less money than the FHA counselor predictedand have gained about $35K in equity.

  8. Pingback: American Jobs Act will address vacant building problems in Virginia |

  9. To:Mr. Shaun Donovan, Secretary of HUD,

    My name is Mary Mangan. I am a survivor of Hurricane Katrina.
    I live in New Orleans, Louisiana. I believe that President Obama is correct with including housing with the Jobs Act. We who live in New Orleans know as well as other cities and states in the USA know first hand that housing especially after a major disaster is a priority, and jobs to afford the rents or mortgages are a priority-they go hand in hand. We are “back” as a city in terms of having the tourists come back-this improves the regional economy-however, many people who have jobs do not have adequate housing, or housing that is affordable-some people are working two or three jobs right now, to afford housing-since Katrina, on average, the rents shot up to four times the previous rates prior to Katrina. The wages in this region can’t pay for the housing and the cost of living-we need help, and we also need programs for the homeless to help rebuild and live in houses or apartments that are capable of being re-done-especially if the foundations of these buildings are sound. We need the private sector to help, but we also need the Federal Govt. to provide some much needed tax refunds to landlords, contractors and the archetects that will be needed in some cases to redo buildings or convert existing buildings into rental or mortgage properties-this may sound like a lot of money, but it is better than tearing down housing or letting properties sit vacant for years(we are in the beginning of our 7th year since Katrina hit in 2005-
    I am writing this on behalf of myself, I am homeless and had subsidized housing prior to Katrina-there are also many countless homeless people living in abandoned housing that can be potentially hazardous, and is illegal and dangerous if the people are found out by the property owners-there are elderly, schizophrenics, and children and families, as well as disabled and simply underemployed people who need housing and have waited for help that hasn’t been given to them, including myself-this is outrageous and just plain wrong to wait and wait for a basic human need-some of us homeless are willing and able to work for access to housing programs and rents that we can afford-with work and with access to work and education that can help us get better jobs. This isn’t gonna happen overnight, but it is necessary in New Orleans and in other places hit by disasters in this country.Thank you. I don’t want to complain, I want to be part of the solution and not just part of the problem. Sincerely, Mary Mangan New Orleans, La.

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  11. I understand you, we all need to support President Obama.
    He love his country and his people, but the job is not easy. With prayer and patient we will over come. For over 8 month I was without job, my friends help my with food and chelter. Thank to God, I am back to school learning new program for a better futur. Do not be discourage, God hear your cries. I love you and will continue to pray for you.

  12. I have been out of work for over 2 years 3 months. I dont want
    to work at any part time job. At 53 that’s totally out of the
    question. I need a full time permanant position with benefits.
    The last place i work was a part time clown house restaurant.
    That’s not going to happen ever again,I will make sure of it.
    Its hard to find a gig with a criminal record. That is another
    road block that’s in my path.I do beleive in god,and i do put
    in the work to change my situation.

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