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Res No 045-10-13079RESOLUTION NO.: 45 -10 -13079 A Resolution of the Mayor and City Commission of the City of South Miami, Florida, urging the Florida Congressional Delegation to support the Jobs for Main Street Act, which is known as the RR 2847 Jobs Bill; and providing for an effective date. Whereas, the American Recovery and Reinvestment Act (ARRA) of 2009 was signed into law by President Obama, on February 17, 2009 with the purpose of economic stimulation by creating and retaining jobs and improving public infrastructure; and Whereas, as part of the Recovery Plan, additional legislation and initiatives are needed to further stimulate the economy and create jobs; and Whereas, the Jobs for Main Street Act, which is know as the HR 2847 Jobs Bill with four elements aimed at spurring job creation: a) payroll tax relief businesses to hire new workers; b) a measure exempting businesses hiring the unemployed from Social security payroll taxes through December, c) a $1,000 ".00 tax credit if new workers remain hired for a full year; and d) extensions for the Highway Trust Fund, the `Build America" bond program and expense deductions for small businesses; and Whereas, The City of South Miami would be eligible for some of these elements that are aimed at economic recovery and job creation; and Whereas, The City of South Miami may be eligible for incentives to governments to hire the unemployed and the `Build America" bonds programs; and Whereas, The City of South Miami supports legislation and efforts for economic recovery and job creation; and Whereas, the City of South Miami urges the Florida Congressional Delegation to support the Jobs for the Main Street Act, which is also know as HR 2847 Bill. Now, therefore, be it resolved by the Mayor and City Commission of the City of South Miami, Florida that: Section 1: The Mayor and City Commission urges the Florida Congressional Delegation to support the Jobs for Main Street Act, which is also known as the HR 2847 Jobs Bill. Section 2 This resolution shall be effective immediately. Passed and Adopted this.6ay of �' . 2010. Attest: Approved: M�� City Clerk Y Read and approved as to form Commission Vote: 5 �4 0 Mayor Stoddard: Yea Vice Mayor Newman: Yea Commissioner Palmer: yea Commissioner Beasley: Commissioner Harris: Yea Yea South Miami PA-Pi CaeitV CITY OF SOUTH MIAMI OFFICE OF THE CITY MANAGER 2001 INTER - OFFICE MEMORANDUM To: The Honorable Mayor & Members of the Ci ;Xlz From:. Roger M. Carlton, Acting City Manager Date: March 2, 2010 Agenda Item No.: Subject: The Jobs Bill Resolution: A Resolution of the Mayor and City Commission of the City of South Miami, Florida urging the Florida Congressional Delegation to support the Jobs for Main Street Act, which is known as the HR 2847 Jobs Bill; and providing an effective date. Request: On February 17, 2009, President Obama signed the American Recovery & Reinvestment Act (ARRA) of 2009 into law. The ARRA was an effort to revitalize the economy by creating and retaining jobs. At the present time, there is additional need for job creation. The Jobs for Main Street Act , which is the HR 2847 Jobs Bill, will allow for further jobs creation and retention by way of the following: a) payroll tax relief for businesses to hire new workers (a measure exempting businesses hiring the unemployed from Social Security and Medicaid taxes through December); b) a $1,000.00 tax credit if new workers remain hired for a full year; c) extensions for the Highway Trust Fund, and the "Build America" bond program; and d) expense deductions for small businesses. Both letters "a" and "b" include governmental entities. The City is urging the Congressional Delegation to support the Jobs Bill. Conclusion: The legislation provides incentives to governments to hire the unemployed and continues the `Build America" bonds that are funding sources that we are reviewing for many city projects on the Priority List discussed. by the City Commission on February 23, 2010. Therefore, the legislation will be helpful to the City of South Miami. Cost: N/A Funding Source: N/A Backup Documentation: ❑ Proposed Resolution