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State Representative Alice Hausman
100 Rev. Dr. Martin Luther King Jr. Blvd.
651-296-3824
For more information contact: Charlene Briner 651-296-5809
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2010 CAPITAL INVESTMENT BILL INTRODUCED ON FIRST DAY OF SESSION Intensive work during interim produces bill to jump-start Minnesota job market
Capping months of intensive work before the start of the 2010 Legislative Session, the Minnesota House of Representatives got off to a quick start today by introducing its Capital Investment bill. Calling the early introduction “unprecedented", committee chair State Representative Alice Hausman said the bill reflects the sense of urgency lawmakers feel to focus on legislation that will stimulate Minnesota’s job market and get people back to work.
“One of the best things we can do to jump start Minnesota’s job market is to pass an early, targeted bonding bill,” said Representative Hausman, who also serves as the co-chair of the House Jobs Task Force. “State Economist Tom Stinson has told us repeatedly that federal recovery dollars and last year’s bonding bill kept this recession from turning into a depression by saving and creating thousands of Minnesota jobs. The bill we’re introducing today builds on that momentum in a responsible, aggressive way.”
Coming in just under $1 billion, the bill reflects three key priorities aimed at spurring economic growth and development across the state: higher education investments, transportation and transit improvements, and clean water infrastructure. Well under Minnesota Management and Budget’s new debt service guidelines, the bill invests in regional economies and is designed to take full advantage of federal and other non-state matches.
Highlights of the 2010 House Capital Investment bill include funding for:
• Higher Education - $322 million
• Transportation and Transit - $158 million
• Economic Development and DEED requests - $126 million
• Clean Water and Wastewater Infrastructure - $60 million
Like recent bonding bills passed by the House, the 2010 proposal prioritizes “shovel-ready” projects that can get underway quickly to fully maximize the job creation impact.
"We are going to put thousands of Minnesotans back to work again through our early work on jobs in this legislative session," said House Speaker Margaret Anderson Kelliher.
Noting the early introduction of the bill, Rep. Hausman stated that early passage will help the state take full advantage of the upcoming construction season. A number of economic models predict that $1billion in bonding could create between 10,000 to 20,000 private and public sector jobs.
“One of the upsides to doing a bonding bill like this in a down economy is that the climate for state bonding has rarely been better, meaning taxpayer dollars can go much further this month than if we delay,” said Hausman. “It is the one bright spot in a bad economy. To forego the opportunity is foolhardy. Interest rates are low, construction bids are coming in one-third or more lower than projected, and workers hungry for jobs.”
This year’s capital investment legislation is a signature piece of an overall jobs agenda being forwarded in the Minnesota House. Lawmakers spent the months leading up to the session working on ways to create a more favorable business and job climate in the state.
Hausman also noted the aggressive timeline is being matched in the Senate and predicted a quick reconciliation of both bodies’ bills when they move to conference committee.
“There has never been a more important time to set aside politics-as-usual for the good of the state,” said Hausman. “This bill is too important to too many people and to our future economic recovery to let it be held up in typical end-of-session negotiations.”
Majority Leader Tony Sertich echoed Hausman’s prediction of a swift timeline for the bill, stating, “This is a balanced bill that reflects needs all across our state. It includes both short and long-term investments that will create public and private sector jobs now and into the future. Minnesotans are counting on us to get to work and get things done. That’s what we’ve been doing for months and what we’re continuing to do today.”
The bill will be heard in the House Capital Investment Committee next Tuesday and will be sent to the House floor for a full vote within the next two weeks.
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News Items
- Hausman receives 2012 Sierra Club Legislative Leadership Award - (Posted: 2012-10-19 00:00:00)
- NEWS STATEMENT ON HOUSE PASSAGE OF BONDING BILL - (Posted: 2012-05-07 00:00:00)
- House passes bonding bill that makes strategic investments throughout the state - (Posted: 2012-05-07 00:00:00)
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