BISMARCK, ND, Sep 13, 2011 -- The White House has released North Dakota specific information for the American Jobs Act as proposed by the President. In addition to extending tax cuts for working families and businesses in the state, the Act would provide an immediate and needed investment in core infrastructure stressed by the oil boom and recent natural disasters in North Dakota.
“Whether it is from energy-related development in western North Dakota or devastating flooding throughout the state, North Dakota’s infrastructure is under heavy strain,” said Jasper Schneider, USDA Rural Development State Director. “The combination of tax cuts and infrastructure improvements contained in the American Jobs Act would help sustain North Dakota’s strong economy in the near term and make it even more resilient in the years to come.”
Some highlights from the American Jobs Act:
• 20,000 North Dakota employers and small businesses will receive a payroll tax cut. The Act will cut the payroll tax in half to 3.1% for employers on the first $5 million in wages, providing broad tax relief to all businesses.
• A typical family in North Dakota, with a median household income of around $50,000, will receive a tax cut totaling around $1,550 annually. The plan will expand the payroll tax cut passed last December by cutting workers’ payroll taxes in half next year.
Rebuilding and Enhancing North Dakota’s Infrastructure
• At least $176,700,000 will be immediately invested in North Dakota highways, transit, rail and aviation.
• $59,900,000 in funds will be made available to support up to 1,000 North Dakota teachers and first responders.
• $58,900,000 in funds will be available to invest in school infrastructure that will modernize North Dakota public schools by improving and upgrading classrooms to meet 21st century needs.
• Up to $20,000,000 could be available in North Dakota to revitalize and refurbish local communities, in addition to funds that would be available through a competitive application. These funds would rehabilitate homes and businesses, providing additional quality housing in western North Dakota.
• $6,500,000 in funding could become available to North Dakota next fiscal year for community colleges to modernize facilities and provide equipment to address the current workforce demands in today’s highly technical and growing fields, including those in North Dakota’s oil patch.
More information on the American Jobs Act can be found at http://www.whitehouse.gov/blog/2011/09/09/state-state-look-american-jobs-act