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Obama on Economic Recovery: $50 billion to Jumpstart the Economy

Sen. Barak Obama (D-IL) economic program spans ten categories. While it is unclear direct State IT investments that will stem from his economic proposals, the following areas may have technology implications for the states.

  • Provide $50 billion to Jumpstart the Economy and Prevent 1 Million Americans from Losing Their Jobs: This relief would include a $25 billion State Growth Fund to prevent state and local cuts in health, education, housing, and heating assistance or counterproductive increases in property taxes, tolls or fees. The Obama-Biden relief plan will also include $25 billion in a Jobs and Growth Fund to prevent cutbacks in road and bridge maintenance and fund school reĀ­pair - all to save more than 1 million jobs in danger of being cut.
  • Simplify Tax Filings for Middle Class Americans: Obama will dramatically simplify tax filings so that millions of Americans will be able to do their taxes in less than five minutes. Obama will ensure that the IRS uses the information it already gets from banks and employers to give taxpayers the option of pre-filled tax forms to verify, sign and return. Experts estimate that the Obama-Biden proposal will save Americans up to 200 million total hours of work and aggravation and up to $2 billion in tax preparer fees. A change like this to the Tax system may involve system enhancements and system overhauls to the State's Tax IT Systems.
  • End Tax Breaks for Companies that Send Jobs Overseas: Obama believes that companies should not get billions of dollars in tax deductions for moving their operations overseas. Obama will also fight to ensure that public contracts are awarded to companies that are committed to American workers.
  • Invest in our Next Generation Innovators and Job Creators: Obama will create an Advanced Manufacturing Fund to identify and invest in the most compelling advanced manufacturing strategies. The Fund will have a peer-review selection and award process based on the Michigan 21st Century Jobs Fund, a state-level initiative that has awarded over $125 million to Michigan businesses with the most innovative proposals to create new products and new jobs in the state.
  • Invest In A Clean Energy Economy And Create 5 Million New "Green" Jobs: Obama will invest $150 billion over 10 years to advance the next generation of biofuels and fuel infrastructure, accelerate the commercialization of plug-in hybrids, promote development of commercial scale renewable energy, invest in low emissions coal plants, and begin transition to a new digital electricity grid. The plan will also invest in America's highly-skilled manufacturing workforce and manufacturing centers to ensure that American workers have the skills and tools they need to pioneer the first wave of green technologies that will be in high demand throughout the world.
  • Deploy Next-Generation Broadband: Obama believes we can get broadband to every community in America through a combination of reform of the Universal Service Fund, better use of the nation's wireless spectrum, promotion of next-generation facilities, technologies and applications, and new tax and loan incentives.
  • Crack down on fraudulent brokers and lenders. Obama will make sure homebuyers have honest and complete information about their mortgage options, and they will give a tax credit to all middle-class homeowners.
  • Ensure More Accountability in the Subprime Mortgage Industry: Obama has been closely monitoring the subprime mortgage situation for years, and introduced comprehensive legislation over a year ago to fight mortgage fraud and protect consumers against abusive lending practices. Obama's STOP FRAUD Act provides the first federal definition of mortgage fraud, increases funding for federal and state law enforcement programs, creates new criminal penalties for mortgage professionals found guilty of fraud, and requires industry insiders to report suspicious activity. 38% of Governors in the 2008 State of the State speeches focused on Community Development prgorams as prorities of their states. General theme centered around mortgage loan crisis. Governors in 9 states urged legislators to pass laws to protect homeowners from foreclosures and mortgage loan scams.
  • Encourage States to Adopt Paid Leave: Obama will initiate a strategy to encourage all 50 states to adopt paid-leave systems. Obama and Biden will provide a $1.5 billion fund to assist states with start-up costs and to help states offset the costs for employees and employers.
  • Expand Flexible Work Arrangements: Obama will create a program to inform businesses about the benefits of flexible work schedules; help businesses create flexible work opportunities; and increase federal incentives for telecommuting. Obama and Biden will also make the federal government a model employer in terms of adopting flexible work schedules and permitting employees to request flexible arrangements.

See Republican Presidential nominee Sen. John McCain's (IL) position on this issue below. This concludes GovWin's weekly coverage of the candidates via this blog. Click here to see all of our Presidential election commentary.

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