Small Business And Infrastructure Jobs Tax Act Of 2010

Floor Speech

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Ms. LINDA T. SÁNCHEZ of California. I would like to thank the chairman.

Madam Speaker, I rise today in strong support of H.R. 4849, legislation that invests in affordable housing, infrastructure, and small businesses.

I want to speak today about two provisions in the bill that are particularly important to the constituents I represent. I'm very pleased that the bill incorporates legislation that I wrote to strengthen the low-income housing tax credit. A stable roof over a child's head contributes to his or her education, emotional well-being, and overall physical health.

In California alone, 4 percent low-income housing credits have been responsible for 125,000 new housing units in the last 20 years. By reviving the value of these credits, we will revitalize the housing sector, creating not just affordable homes but new jobs.

Additionally, this bill extends the Recovery Act's successful Build America Bonds program. These bonds are responsible for almost 25 percent of the current municipal bond market. As of the end of February, $78 billion in Build America Bonds have been issued by State and local governments to build roads, bridges, and schools. And the jobs that are created pay a living wage. They are an investment in our community.

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