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Obama’s Economic Plan Could Add 20K MD Jobs
President Obama recently addressed the nation to promote the American Jobs Act, a plan to spur job growth. Consolidated White House and DBED estimates indicate that the teacher, police, firefighter and construction portions of this plan alone would create, support or preserve almost 20,000 Maryland jobs, including roughly 13,700 construction jobs and 6,000 teacher or first responder jobs [Table 1]. The plan would also give employers hiring the long-term unemployed a $4,000 tax credit per hire and extend expiring federal unemployment benefits.

Over ten years, the plan would combine $250 billion in temporary tax cuts with $200 billion in targeted spending and both the employee and employer share of Social Security taxes would be cut by in half. The federal government would provide $35 billion in state aid to prevent teacher and emergency personnel layoffs and $95 billion to support construction projects. Note: DBED jobs estimates do not count the economic impact of the tax relief or unemployment insurance proposals.

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