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President signs education jobs bill
Posted: 8/11/2010 1:30:00 PM
President Obama Wednesday signed into law legislation containing emergency funds to help states cope with the Great Recession and stave off massive layoffs of educators. On Tuesday, the House joined the Senate in passing H.R. 1586, the Education Jobs and Medicaid Assistance Act, legislation that will keep educators working and help states with Medicaid funding. It provides $10 billion for teachers' jobs and $16 billion for a Medicaid funding assistance program known as FMAP.
The legislation would provide $179.7 million in federal funding for Wisconsin and help save 3,000 jobs.
A Congressional Budget Office analysis found that the legislation, which is fully paid for, will reduce the deficit by $1.4 billion over 10 years. The Department of Education estimates the bill will save some 161,000 educators’ jobs.
