ARRA Has Postive Impact On Virginia
Yesterday a Richmond based think tank issued a report on the American Recovery and Reinvestment Act’s positive financial impact on Virginia’s cities and counties. Craig Carper reports.
The study, commissioned by the Commonwealth Institute, a non-profit, non-partisan group, shows that the Recovery Act has delivered $3 billion in direct aid to Virginia families since it was enacted in February of last year.
Michael Cassidy is the Director of the Commonwealth Institute.
Cassidy: The report shows that they have helped almost every household in Virginia. By including this extra help for families in communities that were hurt the most during the recession, the Recovery Act has provided a crucial safety net, while also ensuring a large proportion of the funds went to the families who would spend the money soon and thereby stimulate the economy when it was most needed.
Among the most significant programs included in the Recovery Act was the Making Work Pay tax credit, which provided $1.9 billion in aid to low to middle income families throughout the Commonwealth. The group also cited success in increased unemployment insurance eligibility and increased food stamp benefits.
Republicans at the state and federal level have called the stimulus plan unsuccessful, though Cassidy says this report provides evidence to the contrary, and hopes that Congress will recognize this when it votes on whether to extend portions of the program.
Craig Carper, WCVE News, Capitol Square.