The Two-Year, Nine-Million-Jobs Investment Plan: A Better Use of TARP Funds
To most effectively use remaining TARP funds and directly address the mortgage crisis, Architecture 2030 is urging the White House and Congress to support the The Two-Year, Nine-Million-Jobs Investment Plan (an update to the 2030 Challenge Stimulus Plan). With an investment of $192.47 billion ($96.235 billion each year for two years), this Plan creates, in just two years:
- over 9 million new jobs,
- $1 trillion in direct, non-federal investment and spending, and
- a new $236 billion renovation market that could grow to $2.6 trillion by 2030 and over $5.47 trillion by 2069.
Also critically important:
- the Plan pays for itself annually through the new tax base created,
- this new tax base also provides the needed funding for public infrastructure
and building projects, and
- the Plan can be implemented quickly through existing federal programs.
What can you do?
Architecture 2030 wants you to add your voice to the cause. Please urge your representatives to support the Two-Year, Nine-Million Jobs Investment Plan. A sample letter is available at the Architecture 2030 website, here.
Hope Resides in the Private Building Sector
The Two-Year, Nine-Million-Jobs Investment Plan is so effective because it invests funds directly in the sector that is dragging down the entire economy, i.e. the private building sector. The private building sector represents 93% of total U.S. building stock and affects virtually every industry and sector in the U.S. It also generates substantial private investment and spending, which makes the 9 million jobs possible. Although important, the public building sector accounts for only 7% of total U.S. building stock and, compared to private building, generates very little private investment and spending, resulting in far fewer jobs.
Addressing the foreclosure crisis and the collapse of the private building sector is critical to stabilizing the U.S. economy. The Two-Year, Nine-Million-Jobs Investment Plan addresses both, as well as many other challenges facing the country, including energy independence and climate change. With a single investment, the U.S. can create millions of jobs, strengthen the U.S. economy, reduce CO2 emissions and energy consumption, and save consumers billions of dollars. Investing in the private building sector is the only investment that can accomplish all of these objectives simultaneously.
Additional information is available at the Architecture 2030 website.
To read the updated Plan, click here.
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