The National Governor's Association (NGA) and the National Conference of State Legislatures (NCSL) held a press conference December 1 to explain the economic assistance they will be seeking from the federal government to help to stimulate state economies. Pennsylvania Governor Rendell, Chairman of NGA, noted that states are taking actions to be fiscally responsible. Forty-three of 50 states are expecting to make cuts to balance their budgets.
States have identified $136 billion worth of major infrastructure projects that could be let within 180 days if federal funds are made available. More than 70% of the planned projects are transportation related including constructing roads and repairing 73,000 structurally deficient bridges. Other projects include port expansions, levee construction, as well as water, sewer and broadband projects. Infrastructure spending is expected to stimulate local economies through wages for workers, orders for steel, asphalt and paint and more.
In addition, states are seeking a two year temporary increase in the federal medical assistance program (FMAP) to meet expected increased demands on the Medicaid program. States believe they can infuse these federal funds into the economy immediately.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment