As the most comprehensive resource available for those involved in technology-based economic development, SSTI offers the services that are needed to help build tech-based economies. Learn more about membership...
Jobs and Growth Bill Provides $20B in State Aid
On Wednesday, President Bush signed the Jobs and Growth Tax Reconciliation Act of 2003, providing $20 billion in fiscal relief to state governments. Half of the $20 billion will come through an increase in the federal share of Medicaid.
The Federal Funds Information for States (FFIS), a joint subscription service of the National Governors' Association and the National Conference of State Legislatures, has published a table showing how the State Fiscal Relief Fund will be divided over fiscal years 2003-2004. The state-by-state table, available at http://www.ffis.org/ff/sfr052303.pdf, estimates fiscal relief allocations.
An amendment to the budget reconciliation bill (S. 1054) providing the $20 billion in fiscal relief was adopted May 15 by the U.S. Senate on a 97-3 vote. The reconciliation bill itself passed the Senate the same day.
Fiscal relief funds are expected to go toward education or job training, health care services, transportation or other infrastructure, law enforcement or public safety, and other essential government services. S. 1054 is available in its entirety at http://thomas.loc.gov/.