On the recordMarch 24, 2010
This, indeed, is a jobs bill. It's a continuation of the work in this Congress by some of us to spur job creation to recover from the 8.4 million jobs lost in this recession and to improve the quality of life in our communities. The cornerstone, indeed, of this package is an extension of the Build America Bonds program. It's been an effective tool in job creation. It's been a vital resource for State and local governments looking to advance infrastructure programs. The money goes to local communities for infrastructure, and that creates jobs. That's what finance experts have said about BABs. It's one of the economic recovery effort's biggest successes. As I mentioned, as of March 1, 2010, State and local governments have used BABs to finance more than $78 billion in infrastructure programs. Now, as to small business. The legislation excludes 100 percent of capital gains on small business stock to help encourage immediate investments in growth. It will, in turn, help our small businesses hire new workers and continue fueling our economic recovery.
