Congressman Bob Etheridge is back at another Wake County school to announce new legislation.
Etheridge will be at Ligon Middle School at 10:30 a.m. today to call for N.C. school construction funding to be included in President-elect Obama's economic recovery package. He's touting how providing $448 million for N.C. school construction would create 10,752 jobs.
Here's the press release:
Etheridge to Call for N.C. School Construction Funds in Economic Recovery Package
In a press conference at Ligon GT Magnet Middle School in Raleigh on Monday, January 12 at 10:30 a.m., U.S. Rep. Bob Etheridge (D-Lillington) will call for N.C. school construction funding to be included in the economic recovery package that Congress and President-elect Barack Obama are writing. Etheridge’s proposal would provide $448 million for North Carolina, creating or sustaining 10,752 jobs in the state.
Etheridge is the only N.C. member of the Ways and Means Committee, which has jurisdiction over the portion of the recovery plan that would include Etheridge’s school construction proposal.
Joining Etheridge at the press conference will be Ben Matthews, Director of School Support for the North Carolina Department of Public Instruction. Matthews will speak about the need for school construction funding in North Carolina and about how many jobs could be created in North Carolina with the proposed funding.
On Wednesday, Etheridge asked Obama to include legislation he has introduced to provide tax credits to fund local school construction in the economic recovery plan. Americans could be put to work on school construction projects as early as 30 days after the legislation becomes law, creating an immediate economic benefit.
The America’s Better Classrooms Act of 2007 would provide for zero-interest school construction and modernization bonds to states and local communities. The federal government would provide tax credits to the bond holder for the interest normally paid on a bond. State and local governments would only have to pay back the principal, meaning funds used to pay bond interest would be freed for other education needs. North Carolina would receive $448 million under Etheridge’s proposal.