Rendell in Phila. to discuss economy plan
Gov. Rendell will be at Drexel University in Philadelphia this afternoon to explain how he envisions his economic-stimulus plan boosting the regional economy.
Gov. Rendell will be at Drexel University in Philadelphia this afternoon to explain how he envisions his economic-stimulus plan boosting the regional economy.
His talk begins at 2 p.m. inside Behrakis Grand Hall, located at 3210 Chestnut St.
Rendell's "Protecting Pennsylvania's Progress" has something for families and businesses alike.
Part of his proposal, contained in a slow-growth $28.3 billion budget he unveiled last week, calls for payments of up to $400 each for lower-income families. To qualify for a payment, a family of four would have to earn no more than $32,000.
For businesses, Rendell wants to create new jobs and extend the life of the Keystone Opportunity Zone, which offers tax abatement for new and expanding businesses.
With a plan for providing $700 million to repair 1,000 structurally deficient bridges in the next three years and $137 million to improve dams and fund other flood-prevention projects, the governor is hoping to promote construction-related hiring and send a message that businesses looking to relocate can count on a sound infrastructure in Pennsylvania.
The overall cost of the new initiatives is $2.3 billion, of which $900 million would come from state funds and the other $1.4 billion from bonds.
The $130 million rebate program, funded through a portion of the Rainy Day Fund, will target working families hit hardest by increases in fuel, medical care and food bills, Rendell said.
