NE1: Second Northeast Stimulus Act (Law)

[sentinel]

We passed the same bill, albeit different monetary amounts, during my last term as Governor. This past budget, as you all saw, dramatically cut taxes and we still managed a surplus. This bill takes that surplus and incorporates it as a one time stimulus package with investments in job training programs, infrastructure. It allows states to use some of the money for repairs on public buildings.

As you consider this, I ask that you keep in mind that during my last term we also passed a federally backed stimulus that invested billions in public services including police, health, education and fire (fighters).

[sentinel]

I can go either way on this.  The Northeast's unemployment rate was 6.1% in December.  Why do we need a stimulus package?  Do we have to worry about overstimulating the economy and bringing on inflation at this point?

How much was our surplus?  And how much money is in our rainy day fund?

My second budget allocated $2.46B to the rainy day fund. My first budget allocated $5.3B to the rainy day fund. Prior to that, I'd need to go look for Scott's budgets etc. Its more of a GM question.

The surplus on this [my second] budget was $12.306 billion. After the rainy day fund that left about $9.846. This stimulus would cost $7 billion, leaving us some wiggle room still.

The stimulus package will continue to help small businesses find employees with the skill set they need. It will also keep people working --mainly on infrastructure projects which will have a multiplier effect in terms of how it helps the economy. Even after the last stimulus, there is still more to be done. We can keep improving, and infrastructure development pays for itself.

[sentinel]

Deus, I'll pull the last GM report so you can see the numbers. But in terms of greater public control over infrastructure - were not increasing control were maintaining what we do control.

[sentinel]

Will sign later.