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John Liu: Obama's Jobs Plan Would Deliver "Significant Benefits" To NYC
By
Christopher Robbins
Published Sep 10, 2011
Modified Sep 12, 2011
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Christopher Robbins / Gothamist
By
Christopher Robbins
Published Sep 10, 2011
Modified Sep 12, 2011
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"Mister Comptroller" and foe of Wall Street John Liu believes that President Obama's $447 billion jobs package "if enacted, will deliver significant benefits to New York City's economy." In a release, Liu states that the payroll and Social Security tax cuts cut proposed by the American Jobs Act "would provide a total benefit of $4.8 billion to New York City workers," and would save someone who makes $25K a year $775, and $3,100 for those making $100K. Liu's office makes no mention of Obama's scrapped proposal of "providing a dual Netflix account to every citizen through 2015."
Also of note is that Obama's plan would spend $50 billion on the nation's transportation infrastructure, $30 billion on school modernization and $10 billion on an "infrastructure bank." With regard to New York City, "every $1 billion in increased infrastructure spending in the City will create 7,500 jobs." Additionally, "federal education aid could help restore 3,700 teaching positions" that are slated for the chopping block in the coming two years.
Liu's positive analysis differs from that of the nonpartisan Fiscal Policy Institute's, whose chief economist said that Obama's plan "is not going to make a lot of progress" towards creating the lost 512,000 jobs that are needed to return to precession unemployment levels. But the FPI report neglects the thousands of potential jobs that would be created in think tanks that offer antithetical opinions on new presidential jobs proposals.
Tagged
2012 campaign
city comptroller
comptroller liu
economy
jobs
john liu
obama
president obama
Unemployment
Christopher Robbins
Christopher Robbins is a New York City reporter covering transportation, affordable housing, local politics, and criminal justice. His work has also appeared in New York Magazine, The Village Voice and The New York Times. Chris is a graduate of Patrick Henry High School in Roanoke, Virginia, and enjoys biking to Fort Tilden in the summertime.
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Gothamist is funded by sponsors and member donations
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