President Obama is giving a speech tomorrow in the wake of his job summit in which he is expected to float the idea of using as much as $200 billion in unspent TARP money for job creation. If approved, it will be up to Congress to iron out the details, but Democrat leaders in the House of Representatives have been talking about using $70 billion for infrastructure improvements. Other possible uses for some of the money include small business loans and helping local governments retain police, fire and other first responders. Congressional Republicans are less enthusiastic about the idea, preferring that the unused TARP money be applied to the deficit.
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December 8th, 2009 at 7:07 pm
[...] As anticipated, President Obama is proposing using some of the $200 billion in TARP money that has already been repaid by banks to fund infrastructure improvements that would both provide jobs and fix badly outdated portions of our transportation and information infrastructure. In addition, the President proposed tax cuts for small businesses and individual tax cuts for retrofitting homes to make them more energy efficient. He’s also preparing to ask Congress to further extend unemployment benefits for those who have been out of work the longest and to use federal money to to help laid off workers keep their health insurance. [...]
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