Title
Authorizing Council's committee on Fiscal Stability and Intergovernmental Cooperation to hold hearings regarding the City of Philadelphia's receipt, allocation and utilization of Federal stimulus funds pursuant to the American Recovery and Reinvestment Act.
Body
WHEREAS, The $787 billion American Recovery and Reinvestment Act (ARRA) was passed by Congress and signed by President Barack Obama and includes provisions for Modernizing the Federal Infrastructure, Expanding Health Care, Relief for Families, Improving Education, Investing in Science Research and Technology, Increasing Alternative Energy Production and Helping Small Businesses; and
WHEREAS, The precise goals of the ARRA are as follows: 1.To preserve and create jobs and promote economic recovery. 2. To assist those most impacted by the recession. 3. To provide investments needed to increase economic efficiency by spurring technological advances in science and health. 4. To invest in transportation, environmental protection, and other infrastructure that will provide long-term economic benefits. 5. To stabilize State and local government budgets, in order to minimize reductions in essential services and counterproductive state and local tax increases; and
WHEREAS, It is expected that the State of Pennsylvania will receive from the ARRA more than $16 billion over the next 18 months benefitting Philadelphia and its residents in many ways, including funding for the City's housing authority, education, food stamps and between $30 million and $50 million in community development block grants, as well as transportation projects expected to get underway with SEPTA receiving in the neighborhood of $200 million; and
WHEREAS, It would be in the City of Philadelphia's best interest to ensure transparency and oversight in the receipt, allocation, utilization and resulting benefit to the City of targeted federal stimulus funds pursuant to the American Recovery and Reinvestment Act; now therefore
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