DES MOINES, Iowa., Oct. 10, 2011 - Today, Agriculture Secretary Tom Vilsack joined business and community leaders to discuss the Administration's strategy to strengthen the U.S. economy and to highlight what passage of the American Jobs Act will mean for Iowans.
"The American Jobs Act provides common-sense steps we can take right now to put more people back to work and put more money in the pockets of working Americans, without adding a dime to the deficit," said Vilsack. "In Iowa, this Act will provide a tax cut for over 60,000 businesses, support the jobs of 4,100 teachers and first responders and immediately provide over 5,000 construction workers a job improving highways and other critical infrastructure. Iowa families will receive a tax cut of around$1,580."
Secretary Vilsack also highlighted the need for quick passage of the pending trade agreements with Columbia, Panama, and South Korea. The agreements were sent to Congress this week and are awaiting approval.
"Full implementation of all three agreements will help farmers and ranchers add more than $2.3 billion a year to the American economy, which will support nearly 20,000 jobs, said Vilsack. "The Korean agreement alone will increase agricultural trade by $1.9 billion and have a greater economic impact that the last nine trade agreements combined."
Full details on the three trade agreements and comprehensive fact sheets on how the agreements will benefit Iowa are available at: http://www.fas.usda.gov/.
- U.S.-Korea Trade Agreement Iowa Fact Sheet
- U.S.-Colombia Trade Promotion Agreement Iowa Fact Sheet
- U.S.-Panama Trade Promotion Agreement Iowa Fact Sheet
The Obama Administration is calling on Congress to pass the American Jobs Act immediately. The Act has five components that will create jobs and strengthen Iowa`s economy:
Tax Cuts to Help America`s Small Businesses Hire and Grow
- 60,000
Putting Workers Back on the Job While Rebuilding and Modernizing America
- $385,900,000 in Iowa that could support a minimum of approximately 5,000
- $287,200,000 in funds to Iowa to support up to 4,100
- $132,600,000 in funding to support as many as 1,700
- $56,700,000
Pathways Back to Work for Americans Looking for Jobs.
- 34,000
- Alongside these reforms, the President is reiterating his call to extend unemployment insurance, preventing 7,300
- 800 adults and 2,300
Tax Relief for Every American Worker and Family
- $51,000, will receive a tax cut of around $1,580.
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