U.S. Rep. Bob Etheridge (D-Lillington) and the House Committee on Ways and Means will hold a mark up on Thursday, January 22, 2009 at 10:00 a.m. to amend and vote on The American Economic Recovery and Reinvestment Act of 2009.
Etheridge is the only N.C. member of the Ways and Means Committee.
The committee will vote on the titles of the bill that fall under its jurisdiction, including provisions related to bonds and taxes, unemployment and Social Security benefits and health care.
The American Economic Recovery and Reinvestment Act of 2009 includes legislation introduced by U.S. Rep. Bob Etheridge, The America’s Better Classrooms Act, that would provide tax credits to fund local school construction. The recovery act provides for zero-interest school construction and modernization bonds to states and local communities. The federal government would provide tax credits to the bond holder for the interest normally paid on a bond. State and local governments would only have to pay back the principal, meaning funds used to pay bond interest would be freed for other education needs.
Etheridge first introduced the ABCs Act in his first term in Congress in 1997.