Senator Lautenberg's Economic Recovery Resource Guide
The American Recovery and Reinvestment Act of 2009 (Recovery Act) was signed into law on February 17, 2009. This landmark legislation is intended to create or save more than 3.5 million jobs, including 100,000 in New Jersey. Our state will receive up to $10 billion in funding for a variety of initiatives within the transportation, infrastructure, health care, housing and neighborhood redevelopment areas. This guide was developed to ensure that New Jersey communities, organizations, businesses and individuals have the opportunity to identify the potential funding opportunities in the bill, whether through the Federal or State government. It contains brief descriptions of programs as well as the relevant website where you may find more detailed information. You can read the guide online using the links on the right or download a PDF.
The Recovery Act also includes approximately $7 billion in essential tax relief for New Jerseyans:
The Act also provides important tax benefits for our nation’s small businesses, including an extension of bonus depreciation, an expansion of the Work Opportunity Tax Credit, and additional funding for the New Markets tax credit. Additionally, the Recovery Act will protect more than 1.7 million middle-class New Jerseyans from becoming subject to the Alternative Minimum Tax in 2009.
Already, the Act has made a difference for the families in our state. You can read a summary of some of the progress the Act has helped create.
The information on implementing the Recovery Act funds is updated often so I encourage you to also visit the Recovery Act Web sites developed by the White House and the State of New Jersey. The websites are:
The American Reinvestment and Recovery Act of 2009 is an important step to get America’s economy back on track and I am pleased to provide this guidebook to help New Jerseyans get access to these funds. If you have any questions, please feel free to contact me at any of my offices: