What’s up with H.R. 2847?
Congress didn’t pass the bill. The substance of it became law in the Consolidated Appropriations Act.
Now Congress, in its infinite wisdom, is using that bill as a vehicle for a couple of other bills. It has cut out the previous language and substituted in the “Jobs for Main Street Act, 2010″ as Division A and the “Statutory Pay-As-You-Go Act of 2009″ (H.R. 2920) as Division B.
Here’s a quick summary of the “Jobs for Main Street Act”:
It takes $75 billion in Troubled Asset Relief Program (TARP) funds, and spends it on infrastructure and job programs. $43.8 billion of the money will go to infrastructure spending, including $27.5 billion for highway infrastructure, $8.4 billion for public transportation, $2 billion for clean water programs, $2 billion for energy innovation loans, $4.1 billion for school renovation grants, $1 billion for the National Housing Trust Fund, and $1 billion for the Public Housing Capital Fund.
$26.7 billion of the $75 billion will go toward public service jobs, including $23 billion for an Education Jobs Fund, $1.18 billion for law enforcement jobs, $500 million for firefighter jobs, $500 million for summer youth employment, and $750 million for job training for high growth fields.
It also spends another $79 billion on “continuing emergency funding,” including $41 billion to extend unemployment insurance for six months (previously extended by this law), $12.3 billion to extend from nine to 15 months the 65% COBRA health insurance subsidy, $354 million for small business loan programs, $23.5 billion to extend FMAP through June 2010, and $2.3 billion to increase eligibility for the child tax credit.
And a couple of other things too.
The most recent cost estimate for all this is about $470 per U.S. family.
So that’s what’s up with H.R. 2847!
Here’s the current vote on it, unfortunately reflecting the votes that accumulated on the bill when it was the CJS spending bill. Click to vote, comment, learn more, or edit the wiki article about the bill.