New York City will receive a combined $4.9 billion in federal stimulus funds for operating expenses and capital spending through June 2012, enough to create or retain more than 28,000 jobs, Deputy Mayor Edward Skyler said.
About $2.1 billion will go toward education, with more than $1 billion applied to the schools’ $18 billion operating budget and $707 million to be spent on programs for “economically disadvantaged” students, Skyler wrote in a memorandum distributed in a news release.
Skyler, Mayor Michael Bloomberg’s deputy for operations, said the program would give the city about $4 billion in expense funding and $900 million for capital spending on infrastructure. The funds will create or save 28,256 public and private jobs, Skyler said.
“The stimulus has provided a much-needed shot in the arm for New York City and provided employment opportunities for a significant number of New Yorkers,” Skyler wrote in the memorandum.
The grants under the American Recovery and Reinvestment Act, which President Barack Obama signed into law in February, include $1.6 billion to reduce the city’s share of Medicaid expenses, $152 million for “neighborhood stabilization” programs, $83 million for public safety, including the hiring of 100 counter-terrorism police officers for $36 million and $65 million for youth summer jobs and adult workforce training. Another $81 million will be available for energy efficiency, Skyler said.
(Source: Bloomberg.com)
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One Response
“About $2.1 billion will go toward education, with more than $1 billion applied to the schools.”
How much more money will we spend on schools? Why not use the stimulus $$$ to cover some existing state outlays?
Well, go figure…