Report Updates Job Growth Estimates from ARRA Funding

The Center on Budget & Policy Priorities (CBPP) released a summary of the recent Congressional Budget Office (CBO) report on job growth tied to the American Recovery and Reinvestment Act (ARRA). The non-partisan CBO estimates that, in the third quarter of 2010, ARRA funds “increased the number of people employed by between 1.4 million and 3.6 million” and “the number of full-time-equivalent jobs by 2.0 million to 5.2 million.”

Notably, the report identifies which types of funds from ARRA represented the best investments. One of the highest yielding was transfers payments to states and localities for infrastructure. Those funds included the Tax Credit Assistance Program (TCAP) and Tax Credit Exchange Program, which ultimately resulted in funding for 14 Preservation projects here in Oregon (see post from 12/08/2009), and the Green Retrofit Program for federally subsidized multifamily housing, which required recipients to extend the project’s affordability period (see post from 5/27/2009).

Click here for CBPP summary and here for the CBO report.

— Posted on 12/02/2010