Rebuilding America’s Schools Act

90 Second Summaries: Season 2, Episode 22 HR 2394: Rebuilding America’s Schools Act Introduced 6/24/2011 Sponsor: Rep. Charles Rangel (D-NY15) Watch this episode of 90 Second Summaries at bit.ly Cosponsors: 1 (Rep. Jared Polis (D-CO2)). Number of cosponsors expected to grow in coming weeks. Up-to-date list at: 1.usa.gov Status: Referred to Ways & Means Committee. No action scheduled. Is unlikely to move as a stand-alone bill, but may be included in a larger jobs package similar to President Obama’s American Jobs Act. Senate Companion: S. 796, sponsored by Sen. Jay Rockefeller (D-WV). 4 D cosponsors. In Finance Committee, no action scheduled. Purpose: If there is such a thing as a prototypical economic stimulus project, construction and modernization of school buildings must be considered part of that category. It serves multiple purposes — creating well-paid local jobs that cannot be outsourced, investing in our children’s future, and enhancing long-run economic competitiveness. Thus, it is no surprise that an instrument to finance school building upgrades, known as Qualified School Construction Bonds, was included in the 2009 Recovery Act. However, with employment numbers still anemic and the stimulus money virtually all spent, the program must be reauthorized and extended in order to continue. Meanwhile, in reaction to the excessive focus on austerity in Washington amidst a sluggish economy, the Congressional Progressive Caucus embarked on a Speakout for Good Jobs Now …