Tag Archives: Obama

How Obama Can Invest in New York Again

Posted on by

In his much-anticipated jobs speech last week, President Obama pledged billions of dollars towards “shovel-ready” projects to put construction workers back on the job. The first round of federal stimulus, passed in 2009, provided $261 million dollars in aid to improve New York City’s infrastructure. Here is a list of projects within the city that would benefit from round two:

Hudson River Tunnel: In October of 2010, Chris Christie touted his cancellation of construction of another tunnel under the Hudson, which would have doubled the capacity of commuter train passengers traveling between New York and New Jersey. The estimated price tag of the project, split between the two states and the federal government, is estimated at about $10 billion.

Retrofitting commercial buildings: Cash-strapped labor unions and private enterprise have attempted to go further than what was pledged in Obama’s green initiatives last year, but would greatly benefit from public investment. Deutsche Bank has compiled a list of potential savings from retrofitting specific commercial buildings in NYC.

Fixing bridges: Although the Brooklyn Bridge received a much-needed enhancement from the America Recovery Act in 2009, bridges throughout the state of New York have been crumbling for years. Senator Schumer has called for federal aid to update over 2,000 structrually deficient bridges throughout the state.

Commuter trains: With New York being awarded a massive federal grant for high-speed rail projects, commuters throughout the region will find it easier to travel throughout the Northeastern Corridor. However, Metro North and NJ Transit are still vital routes for daily commuters throughout the area. Upgrading these networks can greatly improve efficiency.

The American Jobs Act Controversy

Posted on by
President Barack Obama delivers remarks on the American Jobs Act in the William Neal Reynolds Coliseum at North Carolina State University in Raleigh, N.C., Sept. 14, 2011 (Official White House Photo by Pete Souza)

President Barack Obama delivers remarks on the American Jobs Act in the William Neal Reynolds Coliseum at North Carolina State University in Raleigh, N.C., Sept. 14, 2011 (Official White House Photo by Pete Souza)


The American Jobs Act continues to raise debates in the American society.

  • Jobs Plan Approval and Disapproval: The Gallup Daily research on a three-day rolling average shows growing disenchantment with President Obama’s jobs plan.
  • President’s Plan: In the Jobs Act sent to Congress on Monday, President Obama wants high-income workers to assume a greater tax burden. Mr. Obama says taxes won’t go up for those earnings below $250,000.
  • Tax Hikes for Jobs Creators: The tax hikes plan would only affect large companies. Oil and gas companies’ tax subsidies would be cut. Besides, The Jobs Act would raise taxes on some hedge fund managers and on corporate job owners. Republicans, including House Majority Leader Eric Cantor, R-VA., insist the plan contains a tax increase on “job creators”. However, defenders of the plan say wealthy individuals, hedge fund managers and corporate jet owners do not create many jobs.
  • The Jobs Act and New York City: Mr. Obama’s plan is intended to help small businesses in New York City; 400, 000 state firms will receive a payroll tax cut. Besides, The Jobs Act will provide immediate investments of nearly $3 million. in New York highway and transit modernization projects. It could mean about 39,000 jobs in the city. The plan suggests considerable investments in education and construction projects. At the same time, Republicans say the victory of Bob Turner over a Democrat David Weprin in New York’s 9th congressional district is another sign of unhappiness with Obama’s job plan.

East Harlem On Obama’s Jobs Bill

Posted on by

Spanish Harlem’s unemployed population, hovering around 16 percent according to the Census Bureau, is tentatively hopeful that President Obama will get his jobs bill passed. The primary concern, however, is whether the bill can actually create more local small business jobs instead of just painting a brighter picture.

Guadalupe Castro owns Fierce Nail & Spa salon on 117th Street in East Harlem (Photo Credit: Sarah Kazadi)

– Will the incentives work?: The $447 billion American Jobs Act comes with incentives the president believes will get small businesses hiring again, including payroll tax cuts and a $4,000 tax credit to companies hiring the long-term unemployed. Guadalupe Castro, a small business owner in Spanish Harlem, said she wouldn’t mind hiring to “help out,” but that the incentives are not a guarantee that she’ll expand her staff. “They have to be professional, they have to know what they’re doing, it’s going to be a lot of things all together before I can say yes,” she said.

–How long will the incentives last?: There is skepticism that the bill’s incentives will create long term job opportunities. “I don’t think it’s going to work,” said Eladio Perez, an East Harlem resident who has been out of work since October 2009. “If they hire you just based on the incentives, a little after that you’ll be out again looking for work,” he said.

–How long before results?: Some unemployed East Harlem residents applaud the plan but believe that it may take too long to bear fruit. “What they’re doing may not come fast enough to help us. You still have to eat, you still need a roof over your head and hot water,” said Angelo Marquez, who has been unemployed for two years. President Obama added a measure to pay small businesses faster, “So that puts more money in their pockets quicker, which means they can hire folks quicker,” he said in an address at North Carolina State University. 

President Obama sent his job bill to Congress on Monday. There is currently no set date on when it will be voted on.

From Washington DC to New York City, Politicians Talk Jobs Jobs Jobs.

Posted on by

After the Bureau of Labour Statistics released disheartening unemployment numbers, the country’s political arena was full of job-talk this week, as politicians attempted to calm job-market panic:

  • Mayor Michael Bloomberg announced $180,000 worth of grants for small businesses on Tuesday. He declared that the city’s number-1 priority is to create jobs, reported WNYC. The Department of Small Business Services will give this round of grants to four businesses. After unpopular budget cuts this summer that resulted in 777 school employees losing their jobs, Bloomberg hopes that the grants will provide spark to New York City’s job-market.
  • In what was seen by some as a referendum on President Obama’s ability to handle the country’s economic woes, Bob Turner (R) won the race to replace ex-Rep Anthony Weiner, reports the New York Times. Turner beat David Weprin (D), in a tightly contended race that ended on Tuesday. “We seek leadership and direction in returning prosperity and finding jobs for the people of this district,“ said the congressman-elect in his victory speech. Jobs and the faltering economy were central issues in a race that saw District 9 elect their first Republican to congress since 1923.

  • Obama proposed his new Jobs Act to congress last Thursday, in the hopes to stimulate the country’s stagnant job-market. If passed by congress, the bill would provide tax cuts for small business owners as well as a number of spending measures. Obama has said that the $447 billion bill would be funded by deficit reduction measures determined by the Joint Congressional Committee.