Green
jobs are jobs that provide products and services which use renewable
energy resources, reduce pollution, conserve energy and natural
resources and reconstitute waste.
So
what do green jobs mean for the middle class?
First,
quite simply, it means more jobs. At
a time when good jobs at good wages are harder and harder to come by, it
is critical we find new and innovate ways to create more such jobs.
Building a new power grid, manufacturing solar panels,
weatherizing homes and office buildings, and renovating schools are just
a few examples of ways to create new good quality jobs green jobs
and strengthen the foundation of this country at the same time.
Second,
more green jobs mean more money in your pocketbook at the end of the
month. If we create jobs
that aim to reduce your energy costs like your electric bill and
your home heating bill that means you have more disposable income
for other things.
Creating
more green jobs has multiple benefits.
It helps the economy as a whole; it helps our environment; and it
will save you money.
Stay
tuned for more information on green jobs following the Middle Class Task
Forces first meeting on February 27, 2009 in
Philadelphia
,
Pennsylvania
.
What
does investing in Green Jobs mean for the Middle Class?
21st
century jobs with good wages
Lower
electricity and home heating bills
A
growing, greener, cleaner economy
THE
BLOG
MON,
MARCH 2, 5:59 PM EST
Images
and Recap from Philly
The
Middle Class Task Force came to
Philadelphia
on Friday, Feb. 27, 2009 with a clear mission -- figure out how to make
sure that our recovery from the current economic crisis benefits the
middle class. Read a recap and see picture from the day's event.
READ
THIS POST
--------------------------------------------------------------------------------
FRI,
FEBRUARY 27, 11:26 AM EST
Liveblog:
The Task Force's first meeting
The
Vice President and his team are in
Philadelphia
this morning for the first meeting of the Middle Class Task Force, with
a focus on a green jobs as a pathway to a strong middle class. Greg
Nelson from the White House Office of Public Liaison is attending the
meeting and will be filing updates throughout the day.
READ
THIS POST
--------------------------------------------------------------------------------
FRI,
FEBRUARY 27, 8:50 AM EST
The
case for green jobs
Vice
President Biden makes the case for Green Jobs as a way to aid the Middle
Class in an op-ed appearing this morning in the Philadelphia Inquirer.
READ
THIS POST
========================
http://change.gov/agenda/economy_agenda/
The
Obama-Biden Plan
Our
country faces its most serious economic crisis since the great
depression. Working families, who saw their incomes decline by $2,000 in
the economic "expansion" from 2000 to 2007, now face even
deeper income losses. Retirement savings accounts have lost $2 trillion.
Markets have fallen 40% in less than a year. Millions of homeowners who
played by the rules can't meet their mortgage payments and face
foreclosure as the value of their homes have plummeted. With credit
markets nearly frozen, businesses large and small cannot access the
credit they need to meet payroll and create jobs.
Barack
Obama and Joe Biden have a plan to revitalize the economy.
Immediate
Action to Create Good Jobs in
America
Immediate
Relief for Struggling Families
Direct,
Immediate Assistance for Homeowners, Not a Bailout for Irresponsible
Mortgage Lenders
A
Rapid, Aggressive Response to Our Financial Crisis, Using All the Tools
We Have
1.
IMMEDIATE ACTION TO CREATE GOOD JOBS IN
AMERICA
The
economy has lost 760,000 jobs this year -- and some forecasters expect
the unemployment rate to exceed 8 percent by the end of next year.
Addressing the financial crisis will help prevent the most severe loss
of jobs from the crisis. But taking direct steps to create jobs will
also strengthen the economy and help with the financial crisis. Barack
Obama and Joe Biden's overall economic agenda is pro-jobs, including
their plans to eliminate
America
's dependence on foreign oil and bring down healthcare costs. But Obama
and Biden believe we must take additional aggressive steps to jump-start
job creation right now:
A
New American Jobs Tax Credit: Obama and Biden will provide a new
temporary tax credit to companies that add jobs here in the
United States
. During 2009 and 2010, existing businesses will receive a $3,000
refundable tax credit for each additional full-time employee hired. For
example, if a company that currently has 10
U.S.
employees increases its domestic full time employment to 20 employees,
this company would get a $30,000 tax credit -- enough to offset the
entire added payroll tax costs to the company for the first $50,000 of
income for the new employees. The tax credit will benefit all companies
creating net new jobs, even those struggling to make a profit.
Raise
the small business investment expensing limit to $250,000 through the
end of 2009: Obama and Biden will give small businesses an additional
incentive to make investments and start creating jobs again by providing
temporary business tax incentives through 2009. The February 2008
stimulus bill increased maximum Section 179 expenses to $250,000 but
this expires in December 2008. This provision will encourage all firms
to pursue investment in the coming months, but will particularly benefit
small firms which generally have smaller amounts of annual property
purchases and so choose to expense the cost of their acquired property.
Zero
capital gains rate for investment in small businesses: Barack Obama and
Joe Biden believe that we need to encourage investment in small
businesses to help create jobs and turn our economy around. That's why
they will eliminate all capital gains taxes on investments made in small
and start-up businesses. They also want to cut taxes for the small
businesses that create jobs but are struggling with restricted access to
credit on top of skyrocketing health care and energy costs.
Save
one million jobs through immediate investments to rebuild America's
roads and bridges and repair our schools: The Obama-Biden emergency plan
would make $25 billion immediately available in a Jobs and Growth Fund
to help ensure that in-progress and fast-tracked infrastructure projects
are not sidelined, and to ensure that schools can meet their energy
costs and undertake key repairs starting this fall. This increased
investment is necessary to stem growing budget pressures on
infrastructure projects. In addition, in an environment where we may
face elevated unemployment levels well into 2009, making an aggressive
investment in urgent, high-priority infrastructure will serve as a
triple win: generating capital deployment and job creation to boost our
economy in the near-term, enhancing U.S. competitiveness in the longer
term, and improving the environment by adopting energy efficient school
and infrastructure repairs. In total, Obama and Biden's $25 billion
investment will result in 1 million jobs created or saved, while helping
to turn our economy around.
Partner
with America's automakers to help save jobs and ensure that the next
generation of clean vehicles is built in the United States: Senator
Obama pushed for $50 billion in loan guarantees to help the auto
industry retool, develop new battery technologies and produce the next
generation of fuel efficient cars here in America. Congress passed only
half of this amount -- it is critical that the administration speeds up
the implementation of the first half and that Congress move quickly to
enact the second half. In addition, Obama and Biden believe that with
the tremendous uncertainty facing the auto industry, and the small and
medium business suppliers who depend on them, it is critical that we
keep all options on the table for helping them weather the financial
crisis.
2.
IMMEDIATE RELIEF FOR STRUGGLING FAMILIES
Even
when the overall economy was growing, most American families were not
sharing in this growth. The typical non-elderly household saw its income
decline by more than $2,000 from 2000 to 2007 as expenses skyrocketed.
Weekly wages, adjusted for inflation, are now lower than they were a
decade ago. Barack Obama and Joe Biden's overall economic plan will
relieve the squeeze on families and foster bottom-up growth. But they
are proposing that we implement several measures immediately:
A
tax cut for 95 percent of workers and their families -- plus seniors:
Barack Obama and Joe Biden propose a permanent tax cut of $500 for
workers and $1,000 for families. A first round of these tax credits
could be mailed out quickly by the IRS based on tax returns already
filed for tax year 2007. In addition, Obama and Biden would extend these
expedited tax credits to senior citizens who are retired as a down
payment on his plan to eliminate taxes for all seniors making up to
$50,000.
Extend
unemployment insurance benefits and temporarily suspend taxes on these
benefits: Millions of Americans are looking for work but unable to find
it in the weak economy. Today, more than one in five unemployed workers
has been out of work for more than half a year -- the highest level
since early 2005. Obama supported extending unemployment insurance this
summer, but already 800,000 jobless workers have exhausted those
benefits and are being left without any unemployment compensation. Obama
and Biden believe Congress should immediately extend unemployment
insurance for an additional 13 weeks to help families that are being hit
hardest by this downturn. In addition, they believe we should
temporarily suspend taxes on unemployment insurance benefits as a way of
giving more relief to families.
Penalty-free
hardship withdrawals from IRAs and 401(k)s in 2008 and 2009: Many
families are going to be facing unique economic hardship over the coming
year. To help these families pay their bills and their mortgages and
make it through these tough times, Obama and Biden are calling for
legislation that would allow withdrawals of 15% up to $10,000 from
retirement accounts without penalty (although subject to the normal
taxes). This would apply to withdrawals in 2008 (including
retroactively) and 2009.
Instruct
the Treasury to allow seniors to delay required withdrawals from 401(k)s
and IRAs: Currently seniors are required to start withdrawing from their
401(k)s and IRAs at age 70 1/2 and every year thereafter over their
lifetime. But the explicit requirement that withdrawals continue on an
annual basis -- and the related requirement that the amount withdrawn be
based on currently much higher year-end 2007 asset values -- is based on
Treasury regulations, not the statute, which has a less specific
mandate. That means the Secretary of the Treasury has authority to
change its regulations to protect seniors from being forced, at this
critical time, to sell their investments and "lock in" their
losses just after market values have plummeted in an almost
unprecedented fashion. Obama and Biden are calling on Treasury to
temporarily suspend the required withdrawals for retirees over age 70
1/2. Because retirees often make these required withdrawals late in the
year, there is still time to help millions of affected seniors -- but
only if done promptly. In addition, because lower-income seniors may
have no choice but to take withdrawals this year and in 2008, Obama and
Biden will exempt any withdrawals made up to the required minimum amount
from taxation. This will give seniors the flexibility they deserve -- to
forgo withdrawals if they choose or to take those withdrawals tax free
if they need those resources to pay their bills.
Funds
to counteract high heating costs this winter: Obama and Biden are
calling for supplementing the recently passed LIHEAP funding to ensure
that cold-weather states can cushion the impact of high energy prices
for their residents this winter. The Energy Information Administration
said that consumers will pay a projected $1,137 to heat their homes from
Oct. 1 to March 31 -- 15 percent more than last year's heating outlay
during this time. Homeowners that use heating oil rather than natural
gas could see increases of 23 percent compared to last year. As part of
his $25 billion state fiscal relief package, Obama's plan will
supplement existing LIHEAP funding to help state programs expand to
cover more residents while continuing to provide a meaningful benefit.
3.
DIRECT, IMMEDIATE ASSISTANCE FOR HOMEOWNERS, NOT A BAILOUT FOR
IRRESPONSIBLE MORTGAGE LENDERS
Over
the past two years, Americans have lost 20 percent of the value of their
homes. In some parts of the country home values have fallen by twice
that amount. In combination with a rapidly deteriorating economy, that
means more and more families are having a hard time meeting their
monthly mortgage payments. At the same time, many states are considering
property tax hikes that will burden homeowners still further. And
millions of families who have seen the value of their homes fall below
the cost of their mortgages need assistance in restructuring their
mortgages to stay in their homes.
Barack
Obama and Joe Biden's plan provides direct relief to help America's
homeowners pay their mortgages, stay in their homes, and avoid painful
tax increases while protecting taxpayers and not rewarding the bad
behavior and bad actors who got us into this mess:
Instruct
the Secretaries of the Treasury and Housing and Urban Development (HUD)
to use their existing authority to more aggressively modify the terms of
mortgages: Barack Obama was an early champion of the HOPE for Homeowners
Act that passed over the summer. In addition, Obama insisted that the
financial rescue plan Congress recently passed include authority for the
Secretary to work with servicers to modify the terms of mortgages for
homeowners who played by the rules. Obama and Biden believe that both of
these plans should be implemented aggressively and comprehensively. In
addition, Obama and Biden are calling on Treasury and HUD to develop a
plan to work with state housing agencies to coordinate broad mortgage
restructurings. The Dodd-Frank legislation gives states broader
authority to help struggling homeowners, and coordination is essential
to ensure that state and national efforts are working in concert to help
as many homeowners as possible at the minimum cost to taxpayers.
Reform
the bankruptcy code to assist homeowners and remove legal impediments to
encouraging broader mortgage restructuring: Obama and Biden are also
calling for legislation to close the loophole in our bankruptcy code
that allows bankruptcy judges to modify the terms of mortgages on
investment properties and vacation homes but not on primary residences.
He also believes we should clarify the legal liability of mortgage
servicers so that servicers who work with struggling homeowners to
modify their mortgages will receive legal protections. And we should
remove any tax- or legal-related impediments to encouraging
shared-equity mortgages within the HOPE for Homeownership process.
Enact
a 90-day foreclosure moratorium for homeowners who are acting in good
faith: Financial institutions that participate in the financial rescue
plan should be required to adhere to a homeowner's code of conduct,
including a 90-day foreclosure moratorium for any homeowners living in
their homes who are making good faith efforts to pay their mortgages.
This will help create stability until the more far-reaching solutions
are implemented and give both sides a chance to work out an agreement.
Provide
$25 Billion in state fiscal relief to help avoid painful property tax
increases: Budget crunches across the nation are putting our local
governments in the untenable position of having to choose between
raising property taxes and cutting vital services. Obama has proposed
$25 billion in state fiscal relief that, coupled with the new emergency
facility to address the state credit crunch, will help states and
localities continue to provide essential services like health care,
police, fire and education without raising taxes or fees.
Create
a universal mortgage tax credit for homeowners: Barack Obama believes we
should immediately enact a 10 percent refundable tax credit on the
mortgage interest paid by hardworking American families who do not
itemize their taxes. This credit will help offset the cost of mortgage
payments for at least 10 million middle-class homeowners.
4.
A RAPID, AGGRESSIVE RESPONSE TO THE FINANCIAL CRISIS -- USING ALL THE
TOOLS WE HAVE
Barack
Obama and Joe Biden believe that our deep systemic financial market
crisis requires a systemic response. They fought to ensure that the
recently-passed financial rescue package gave the Treasury the tools to
stabilize the financial system, while protecting taxpayers and ensuring
CEOs would not get rich in the process. However, this stabilization will
only occur if the Treasury, Federal Reserve, FDIC, and other government
entities use their authority and move quickly and aggressively to
address the financial crisis.
It
is now clear that our financial markets will not restart until financial
institutions are lending again. Because of the extensive losses many of
these institutions have suffered, they need more capital so that they
will have the money to lend to families and businesses. Obama and Biden
recognized this early, and were heartened by the Treasury's stated
intention to use its recently granted authority to inject capital into
our financial institutions. However, Secretary Paulson must turn this
intention into action quickly and aggressively, in a manner that
strengthens confidence in our banks, protects taxpayers, does not reward
CEOs, and is strictly temporary.
In
addition, our financial authorities must stand ready to take additional,
complementary actions -- consistent with the systemic nature of this
crisis -- to ensure this Treasury initiative is successful:
Be
prepared, if necessary, for broader assurances for credit to banks:
First, we must be prepared to provide additional, temporary assurances
to achieve the effective functioning of financial markets. Depending on
developing circumstances, these steps could include additional measures
by the Federal Reserve, extending insurance to all deposits, or
guaranteeing a broader range of liabilities of the banking system
including overnight loans. Any such steps should be coordinated
internationally where appropriate and feasible. They should be
accompanied by additional oversight to ensure appropriate use of
guaranteed funds and by the expectation that financial institutions
taking advantage of these guarantees will raise more capital.
Extend
asset purchases to unfreeze other critical sectors: Second, the Treasury
should not limit itself to purchasing mortgage-backed securities under
the financial rescue plan recently passed by Congress. The Treasury
should use the authority it has under the new law to help unfreeze
markets for individual mortgages, student loans, car loans, loans for
multi-family dwellings, and credit card loans.
Make
credit available to small businesses and state or local governments:
Third, we should take immediate steps to support non-financial
institutions including small businesses and states and municipalities.
The Federal Reserve and Treasury have acted to preserve the availability
of liquidity for financial institutions and, more recently, have created
a program to purchase commercial paper directly from the large corporate
issuers. Small businesses and state and local governments, however, are
having serious difficulty obtaining necessary financing from debt
markets.
Address
the credit crisis facing our states and localities: Barack Obama and Joe
Biden propose that the Federal Reserve and the Treasury work together to
design a facility to provide a funding backstop to the state and
municipal government debt market similar to the recently announced
program for the commercial paper market. The Federal Reserve should
determine whether it has sufficient legal authority to establish such a
facility on its own -- if not, it should work with Treasury and the
Congress to achieve this goal. This new facility should be designed to
protect taxpayer resources while ensuring that state and local
governments can continue to provide vital services to their residents.
Address
the credit crisis facing our small businesses: To address the massive
credit crunch that is threatening America's small businesses, Barack
Obama and Joe Biden are proposing two immediate steps: (1) a nationwide
emergency lending facility for small businesses that could be run
through the SBA's Disaster Loan Program, which helped thousands of
businesses in the wake of 9/11; and (2) temporarily eliminating fees on
the SBA's 7(a) and 504 loan guarantee programs for small businesses, to
help increase private lending for small businesses.
Trade
Barack
Obama and Joe Biden believe that trade with foreign nations should
strengthen the American economy and create more American jobs. They will
stand firm against agreements that undermine our economic security.
Fight
for Fair Trade: Obama and Biden will fight for a trade policy that opens
up foreign markets to support good American jobs. They will use trade
agreements to spread good labor and environmental standards around the
world and stand firm against agreements like the Central American Free
Trade Agreement that fail to live up to those important benchmarks.
Obama and Biden will also pressure the World Trade Organization to
enforce trade agreements and stop countries from continuing unfair
government subsidies to foreign exporters and nontariff barriers on
U.S.
exports.
Amend
the North American Free Trade Agreement: Obama and Biden believe that
NAFTA and its potential were oversold to the American people. They will
work with the leaders of
Canada
and
Mexico
to fix NAFTA so that it works for American workers.
Improve
transition assistance: To help all workers adapt to a rapidly changing
economy, Obama and Biden will update the existing system of Trade
Adjustment Assistance by extending it to service industries, creating
flexible education accounts to help workers retrain, and providing
retraining assistance for workers in sectors of the economy vulnerable
to dislocation before they lose their jobs.
End
tax breaks for companies that send jobs overseas: Barack Obama and Joe
Biden believe that companies should not get billions of dollars in tax
deductions for moving their operations overseas. They will fight to
ensure that public contracts are awarded to companies that are committed
to American workers.
Reward
companies that support American workers: Barack Obama introduced the
Patriot Employer Act of 2007 with Senators Richard Durbin (D-Ill) and
Sherrod Brown (D-Oh) to reward companies that create good jobs with good
benefits for American workers. The legislation would provide a tax
credit to companies that maintain or increase the number of full-time
workers in
America
relative to those outside the
U.S.
; maintain their corporate headquarters in
America
if it has ever been in
America
; pay decent wages; prepare workers for retirement; provide health
insurance; and support employees who serve in the military.
Manufacturing
and Green Jobs
Invest
in our next generation innovators and job creators: Obama and Biden will
create an Advanced Manufacturing Fund to identify and invest in the most
compelling advanced manufacturing strategies. The Fund will have a
peer-review selection and award process based on the Michigan 21st
Century Jobs Fund, a state-level initiative that has awarded over $125
million to Michigan businesses with the most innovative proposals to
create new products and new jobs in the state.
Double
funding for the manufacturing extension partnership: The Manufacturing
Extension Partnership (MEP) works with manufacturers across the country
to improve efficiency, implement new technology and strengthen company
growth. This highly-successful program has engaged in more than 350,000
projects across the country and in 2006 alone, helped create and protect
over 50,000 jobs. But despite this success, funding for MEP has been
slashed by the Bush administration. Barack Obama and Joe Biden will
double funding for the MEP so its training centers can continue to
bolster the competitiveness of
U.S.
manufacturers.
Invest
in a clean energy economy and create 5 million new green jobs: Obama and
Biden will invest $150 billion over 10 years to advance the next
generation of biofuels and fuel infrastructure, accelerate the
commercialization of plug-in hybrids, promote development of commercial
scale renewable energy, invest in low emissions coal plants, and begin
transition to a new digital electricity grid. The plan will also invest
in
America
's highly-skilled manufacturing workforce and manufacturing centers to
ensure that American workers have the skills and tools they need to
pioneer the first wave of green technologies that will be in high demand
throughout the world.
Create
new job training programs for clean technologies: The Obama-Biden plan
will increase funding for federal workforce training programs and direct
these programs to incorporate green technologies training, such as
advanced manufacturing and weatherization training, into their efforts
to help Americans find and retain stable, high-paying jobs. Obama and
Biden will also create an energy-focused youth jobs program to invest in
disconnected and disadvantaged youth.
Boost
the renewable energy sector and create new jobs: The Obama-Biden plan
will create new federal policies, and expand existing ones, that have
been proven to create new American jobs. Obama and Biden will create a
federal Renewable Portfolio Standard (RPS) that will require 25 percent
of American electricity be derived from renewable sources by 2025, which
has the potential to create hundreds of thousands of new jobs. They will
also extend the Production Tax Credit, a credit used successfully by
American farmers and investors to increase renewable energy production
and create new local jobs.
National
Infrastructure Investment
Barack
Obama and Joe Biden believe that it is critically important for the
United States
to rebuild its national transportation infrastructure -- its highways,
bridges, roads, ports, air, and train systems -- to strengthen user
safety, bolster our long-term competitiveness and ensure our economy
continues to grow.
Create
a National Infrastructure Reinvestment Bank: Barack Obama and Joe Biden
will address the infrastructure challenge by creating a National
Infrastructure Reinvestment Bank to expand and enhance, not supplant,
existing federal transportation investments. This independent entity
will be directed to invest in our nation's most challenging
transportation infrastructure needs. The Bank will receive an infusion
of federal money, $60 billion over 10 years, to provide financing to
transportation infrastructure projects across the nation. These projects
will directly and indirectly create up to two million new jobs and
stimulate approximately $35 billion per year in new economic activity.
Technology,
Innovation and Creating Jobs
Barack
Obama and Joe Biden will increase federal support for research,
technology and innovation for companies and universities so that
American families can lead the world in creating new advanced jobs and
products.
Invest
in the sciences: Obama and Biden support doubling federal funding for
basic research and changing the posture of our federal government from
being one of the most anti-science administrations in American history
to one that embraces science and technology. This will foster home-grown
innovation, help ensure the competitiveness of
U.S.
technology-based businesses, and ensure that 21st century jobs can and
will grow in
America
.
Make
the Research and Development Tax Credit permanent: Barack Obama and Joe
Biden want investments in a skilled research and development workforce
and technology infrastructure to be supported here in
America
so that American workers and communities will benefit. Obama and Biden
want to make the Research and Development tax credit permanent so that
firms can rely on it when making decisions to invest in domestic R&D
over multi-year timeframes.
Deploy
next-generation broadband: Barack Obama and Joe Biden believe we can get
broadband to every community in
America
through a combination of reform of the Universal Service Fund, better
use of the nation's wireless spectrum, promotion of next-generation
facilities, technologies and applications, and new tax and loan
incentives.
Small
Business
Provide
tax relief for small businesses and start-up companies: Obama and Biden
will eliminate all capital gains taxes on start-up and small businesses
to encourage innovation and job creation. Obama and Biden will also
support small business owners by providing a $500 "Making Work
Pay" tax credit to almost every worker in
America
. Self-employed small business owners pay both the employee and the
employer side of the payroll tax, and this measure will reduce the
burdens of this double taxation.
Create
a national network of public-private business incubators: Obama and
Biden will support entrepreneurship and spur job growth by creating a
national network of public-private business incubators. Business
incubators facilitate the critical work of entrepreneurs in creating
start-up companies. Obama and Biden will invest $250 million per year to
increase the number and size of incubators in disadvantaged communities
throughout the country.
Labor
Obama
and Biden will strengthen the ability of workers to organize unions. He
will fight for passage of the Employee Free Choice Act. Obama and Biden
will ensure that his labor appointees support workers' rights and will
work to ban the permanent replacement of striking workers. Obama and
Biden will also increase the minimum wage and index it to inflation to
ensure it rises every year.
Ensure
freedom to unionize: Obama and Biden believe that workers should have
the freedom to choose whether to join a union without harassment or
intimidation from their employers. Obama cosponsored and is a strong
advocate for the Employee Free Choice Act (EFCA), a bipartisan effort
that makes sure workers can exercise their right to organize. They will
continue to fight for EFCA's passage and Obama will sign it into law.
Fight
attacks on workers' right to organize: Obama has fought the Bush
National Labor Relations Board (NLRB) efforts to strip workers of their
right to organize. He is a cosponsor of legislation to overturn the
NLRB's "
Kentucky River
" decisions classifying hundreds of thousands of nurses,
construction workers, and professional workers as
"supervisors" who are not protected by federal labor laws.
Protect
striking workers: Obama and Biden support the right of workers to
bargain collectively and strike if necessary. They will work to ban the
permanent replacement of striking workers, so workers can stand up for
themselves without worrying about losing their livelihoods.
Raise
the minimum wage: Barack Obama and Joe Biden will raise the minimum
wage, index it to inflation and increase the Earned Income Tax Credit to
make sure that full-time workers earn a living wage that allows them to
raise their families and pay for basic needs.
Mortgages,
Homeownership, and Bankruptcy
Obama
and Biden will crack down on fraudulent brokers and lenders. They will
also make sure homebuyers have honest and complete information about
their mortgage options, they'll give a tax credit to all middle-class
homeowners, and they'll reform our bankruptcy laws to protect working
people.
Create
a universal mortgage credit: Obama and Biden will create a 10 percent
universal mortgage credit to provide tax relief to homeowners who do not
itemize. This credit will provide an average of $500 to 10 million
homeowners, the majority of whom earn less than $50,000 per year.
Ensure
more accountability in the subprime mortgage industry: Obama has been
closely monitoring the subprime mortgage situation for years, and
introduced comprehensive legislation over a year ago to fight mortgage
fraud and protect consumers against abusive lending practices. Obama's
STOP FRAUD Act provides the first federal definition of mortgage fraud,
increases funding for federal and state law enforcement programs,
creates new criminal penalties for mortgage professionals found guilty
of fraud, and requires industry insiders to report suspicious activity.
Mandate
accurate loan disclosure: Obama and Biden will create a Homeowner
Obligation Made Explicit (HOME) score, which will provide potential
borrowers with a simplified, standardized borrower metric (similar to
APR) for home mortgages. The HOME score will allow individuals to easily
compare various mortgage products and understand the full cost of the
loan.
Close
bankruptcy loophole for mortgage companies: Obama and Biden will work to
eliminate the provision that prevents bankruptcy courts from modifying
an individual's mortgage payments. They believe that the subprime
mortgage industry, which has engaged in dangerous and sometimes
unscrupulous business practices, should not be shielded by outdated
federal law.
Credit
Cards and Lending
Obama
and Biden will establish a five-star rating system so that every
consumer knows the risk involved in every credit card. They also will
establish a Credit Card Bill of Rights to stop credit card companies
from exploiting consumers with unfair practices.
Create
a credit card rating system to improve disclosure: Obama and Biden will
create a credit card rating system, modeled on five-star systems used
for other consumer products, to provide consumers an easily identifiable
ranking of credit cards, based on the card's features. Credit card
companies will be required to display the rating on all application and
contract materials, enabling consumers to quickly understand all of the
major provisions of a credit card without having to rely exclusively on
fine print in lengthy documents.
Establish
a Credit Card Bill of Rights to protect consumers: Obama and Biden will
create a Credit Card Bill of Rights to protect consumers. The
Obama-Biden plan will:
Ban
Unilateral Changes
Apply
Interest Rate Increases Only to Future Debt
Prohibit
Interest on Fees
Prohibit
"Universal Defaults"
Require
Prompt and Fair Crediting of Cardholder Payments
Cap
outlandish interest rates on payday loans and improve disclosure: Obama
and Biden will extend a 36 percent interest cap to all Americans. They
will require lenders to provide clear and simplified information about
loan fees, payments and penalties, which is why they'll require lenders
to provide this information during the application process.
Encourage
responsible lending institutions to make small consumer loans: Obama and
Biden will encourage banks, credit unions and Community Development
Financial Institutions to provide affordable short-term and small-dollar
loans and to drive unscrupulous lenders out of business.
Reform
bankruptcy laws to protect families facing a medical crisis: Obama and
Biden will create an exemption in bankruptcy law for individuals who can
prove they filed for bankruptcy because of medical expenses. This
exemption will create a process that forgives the debt and lets the
individuals get back on their feet.
Work-Family
Balance
Obama
and Biden will double funding for after-school programs, expand the
Family Medical Leave Act, provide low-income families with a refundable
tax credit to help with their child-care expenses, and encourage
flexible work schedules.
Expand
the Family and Medical Leave Act: The FMLA covers only certain employees
of employers with 50 or more employees. Obama and Biden will expand it
to cover businesses with 25 or more employees. They will expand the FMLA
to cover more purposes as well, including allowing workers to take leave
for elder care needs; allowing parents up to 24 hours of leave each year
to participate in their children's academic activities; and expanding
FMLA to cover leave for employees to address domestic violence.
Encourage
states to adopt paid leave: As president, Obama will initiate a strategy
to encourage all 50 states to adopt paid-leave systems. Obama and Biden
will provide a $1.5 billion fund to assist states with start-up costs
and to help states offset the costs for employees and employers.
Expand
high-quality afterschool opportunities: Obama and Biden will double
funding for the main federal support for afterschool programs, the 21st
Century Learning Centers program, to serve a million more children.
Obama and Biden will include measures to maximize performance and
effectiveness across grantees nationwide.
Expand
the child and dependent care tax credit: The Child and Dependent Care
Tax Credit provides too little relief to families that struggle to
afford child care expenses. Obama and Biden will reform the Child and
Dependent Care Tax Credit by making it refundable and allowing
low-income families to receive up to a 50 percent credit for their child
care expenses.
Protect
against caregiver discrimination: Workers with family obligations often
are discriminated against in the workplace. Obama and Biden will enforce
the recently-enacted Equal Employment Opportunity Commission guidelines
on caregiver discrimination.
Expand
flexible work arrangements: Obama and Biden will create a program to
inform businesses about the benefits of flexible work schedules; help
businesses create flexible work opportunities; and increase federal
incentives for telecommuting. Obama and Biden will also make the federal
government a model employer in terms of adopting flexible work schedules
and permitting employees to request flexible arrangements.
====================
yahoo
news article:
=====
about bill being signed:
Obama
signs stimulus bill, readies homeowner plan
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Bookmarks Print By LIZ SIDOTI and TOM RAUM, Associated Press Writer Liz
Sidoti And Tom Raum, Associated Press Writer Tue Feb 17, 6:37 pm ET
Play Video AP Obama
signs economic stimulus into law
Slideshow:Economic
Stimulus Plan Related Quotes Symbol Price Change
F
1.81 -0.07
GM
1.99 -0.02
^GSPC
696.33 -4.49
AP
President Barack Obama signs the $787 billion economic stimulus
bill, as Vice President Joe Biden looks
DENVER
Racing to reverse the country's economic spiral, President Barack
Obama signed the mammoth stimulus package into law Tuesday and readied a
new $50 billion foreclosure rescue for legions of Americans who are in
danger of losing their homes.
There
was no recovery yet for beleaguered automakers, who were back in
Washington
for more bailout billions. General Motors Corp. said it was closing
plants, Chrysler LLC said it was cutting vehicle models and both said
they were getting rid of thousands more jobs as they made their
restructuring cases for $5 billion more for Chrysler and as much as
$16.6 billion more for GM. The United Auto Workers union said it had
agreed to tentative concessions that could help
Detroit
's struggling Big Three.
Anything
but reassured, Wall Street dove ever lower. The Dow Jones industrials
fell 297.81 points, closing less than a point above their lowest level
in five and a half years.
Obama
focused on the $787 billion stimulus plan, an ambitious package of
federal spending and tax cuts designed to revive the economy and save
millions of jobs. Most wage-earners will soon see the first paycheck
evidence of tax breaks that will total $400 for individuals and $800 for
couples.
The
stimulus package was a huge victory for Obama less than one month into
his presidency. But he struck a sober tone and lowered expectations for
an immediate turnaround in the severe recession that is well into its
second year.
"None
of this will be easy," he said. "The road to recovery will not
be straight. We will make progress, and there may be some slippage along
the way."
Still,
he declared, "We have begun the essential work of keeping the
American dream alive in our time."
Underscoring
energy-related investments in the new law, Obama and Vice President Joe
Biden flew separately to
Denver
where the president signed it at the
Denver
Museum
of Nature & Science before roughly 250 people including alternative
energy business leaders. Earlier, the pair examined solar panels on the
museum's roof.
On
Wednesday, Obama will outline another big piece of his recovery effort
a $50 billion plan to help stem foreclosures in Arizona, one of
the states hardest hit by the mortgage defaults that are at the center
of the nation's economic woes.
Treasury
Secretary Timothy Geithner mentioned the housing program last week as he
rolled out a wide-ranging financial-sector rescue plan that could send
$2 trillion coursing through the financial system. Obama is expected to
detail how the administration plans to prod the mortgage industry to do
more in modifying the terms of home loans so borrowers have lower
monthly payments.
More
than 2.3 million homeowners coast-to-coast faced foreclosure proceedings
last year, an 81 percent increase from 2007. Analysts say that number
could soar as high as 10 million in the coming years, depending on the
severity of the recession.
In
Denver
, Obama said the stimulus package had received broad support in
Washington
and elsewhere, though Democrats pushed it to passage with only three
Republican votes in the Senate and none in the House.
One
of the biggest public spending programs since World War II, the new law
is designed to create jobs in the short term and to boost consumer
confidence to battle the worst economic crisis since the Great
Depression. It also makes down payments on Obama's health care, energy
and education goals.
Taking
the long view, Obama cast the law as just "the beginnings of the
first steps" to jerk the country out of a crisis he inherited from
GOP President George W. Bush.
White
House press secretary Robert Gibbs, asked by reporters, would not rule
out another stimulus in the future, though he said a sequel was not in
the works "at this point." He added, "The president is
going to do whatever he thinks is necessary to get our economy moving
again."
The
nation's distressed economy has dominated Obama's first weeks in office.
While
laying the groundwork to address woes in the auto, financial and housing
sectors, Obama spent some of his political capital lobbying hard for the
stimulus package that the Democratic-controlled Congress approved last
week. Obama has essentially pinned his political future on his
prescriptions for the ailing economy, going so far as to raise the
possibility of a one-term presidency if he fails.
There's
no guarantee that Obama's enormous marshaling of resources and
multi-pronged approach will stunt the economic freefall, much less
produce jobs or bring prosperity. The only thing certain is that Obama
is on track to boost a federal debt that stands at $10.7 trillion.
Clearly
mindful of that, Obama said: "We will need to do everything in the
short term to get our economy moving again" as well as "begin
restoring fiscal discipline and taming our exploding deficits over the
long term."
As
he spoke in
Denver
, General Motors Corp. and Chrysler LLC were racing to complete plans
detailing how they would repay government loans and restructure their
operations to remain viable.
Detroit
's third major automaker, Ford Motor Co., has not requested government
help.
GM
submitted a dire plan to the Treasury Department, saying it would try to
borrow up to $16.6 billion more from the government on top of the $13.4
billion it has received. The plan includes cutting 47,000 more jobs and
closing five more
U.S.
factories.
Chrysler
said it needed $5 billion more to survive on top of the $4 billion in
government loans it received in December. It said it would cut 3,000
jobs and three vehicle models as part of its restructuring plan.
The
United Auto Workers union said it had reached a tentative deal with
Chrysler, GM and Ford to modify its contracts with the automakers to
help them endure.
As
a White House task force prepared to oversee the companies'
restructuring, presidential spokesman Gibbs said the administration had
not closed the door to a government-backed bankruptcy for the companies.
GM
said it had considered bankruptcy, but the only credit available to
finance a reorganization would be from the government and that could
cost as much as $100 billion.
As
for the stimulus plan, Obama contends it will create or save 3.5 million
jobs. Critics, mostly Republicans, contend it is filled with wasteful
spending and provisions that won't boost the economy.
Recession
victims will get extended unemployment benefits and help with health
care coverage, as well as more food stamps and job training
opportunities. States will get cash to prevent them from cutting aid for
schools and local governments. Billions are slated for road and bridge
construction, mass transit, high-speed rail and national parks.
Middle-income
and wealthy taxpayers will be spared from income tax increase that would
otherwise hit them. First-time home buyers, new car buyers, college
students, poor families with several children and people who make their
homes energy efficient also will get breaks.
The
measure also includes money for three top items on the president's
agenda expanding computerized information technology in the health
care industry, creating "green" jobs Obama says will help wean
the country off foreign oil dependence, and improving the quality of
kindergarten through 12th grade education.
___
Tom
Raum reported from
Washington
. Associated Press Writers Ben Feller and Ken Thomas in
Washington
and Tom Krisher in
Detroit
contributed to this report.
====================
http://www.barackobamajobs.com/
===maybe
something will appear here soon. I
clicked 'green jobs' on the page copied below, and there was nothing
there.
Barack
Obama Jobs
Your
Stimulus Career Resource
Home
News
About
Us
Contact
Us
Learn
About Stimulus Jobs
BarackObamaJobs.com
is your source for information about the jobs and careers Barack Obama
is and will be promoting as part of his stimulus packages.
To
make life easier, we have divided the site into a series of pages about
the careers that President Obama will be emphasizing. We give you
information on how to apply for these jobs, what requirements there may
be, and where you can apply to get the government to pay for your
training.
Current
Stimulus Jobs:
Green
Jobs
Learn
about Green Job opportunities and where to get free trainging
Healthcare
Administration
HealthCare
Administrative Positions in hospitals, doctor's offices, and many other
places.
Medical
Nurse / Physician Assistant
The
highest demand profession right now. Where to get training and work
Financial
Auditor
The
only in demand financial position. Where to get necessary training and
work.
Solar
Installation
Fastest
growing green career.
Civil
Engineer
The
largest boost from the stimulus package.
Educator
Teacher's
salaries are rising as demand increases.
Remember,
these are jobs that are currently being promoted by the Obama
Administration. This means that they are plentiful, there are ways to
have your training paid for by the government, and they will continue to
do well into the foreseeable future.
---------------
For
more about this growing realization and Movement, see
"'All
things EHE': A New Consensus Reality,"and "The
Awakening of a rEvolutionary New Worldview,"
and "Who
Is This Global Shift Movement?"
See
also:
GREEN
JOBS Investment project page
EHE Study Groups
EHErs Making a
Positive Difference
Chronicles of This World-Awakening Revolution
ABOUT Making a
Positive Difference
-
Activist Listings
-
Green and Fair-Trade Product and Service Listings
Reviews: Activist Organizations, Products, and Services