Economy and Jobs
Congressman Serrano believes that more must be done to help those who have the least in our nation. He believes that we must do more to create good jobs that provide a living wage for residents of the Bronx. While the Bronx has come a long way, there is much more that must be done at the local, state, and federal level to help the local Bronx economy. As the economy continues its recovery from the recent recession, Congressman Serrano is working to ensure that all sectors of society benefit from that process.
Expanding Financial Resources and Investment in the Bronx
As chair of the Financial Services and General Government Appropriations subcommittee, Congressman Serrano more than quadrupled funding for the Community Development Financial Institutions (CDFI) fund. This fund helps provide economic development and financial services to underserved populations. In the 112th Congress, he has fought to prevent Republicans from enforcing crippling cuts on this important economic development program.
As Chairman, Congressman Serrano also provided increased funding for several Small Business Administration programs that provide assistance to small business-owners in low-income areas. Among other things, he designated additional funding for PRIME, a program that provides technical assistance to low-income small business owners. In addition, he increased funding for Small Business Development Centers, which are located throughout the United States and provide counseling, training, and technical assistance to small businesses.
Over the years, Congressman Serrano has also obtained significant federal support, through earmarks, for numerous community groups in the Bronx to provide job training and career counseling for individuals in search of jobs.
Helping American Families
Congressman Serrano believes that the federal government has an important role to play in helping families to make ends meet.
In order to help individuals who have suffered as a result of the economic downturn, Congressman Serrano has been supportive of efforts to extend and enhance unemployment benefits for those who are looking for work. In addition, he supported important tax incentives in the American Recovery and Reinvestment Act that expand opportunities for working families. These include: strengthening of the child tax credit, which provides families with tax credits for children, the Making Work Pay Tax Credit, which has provided immediate tax relief by lowering taxes withheld in each paycheck, and the American Opportunity Tax Credit, which expands tax credits that individuals can claim for post-secondary education expenses.
As chair of the Financial Services and General Government Appropriations Subcommittee, Congressman Serrano helped to create the Volunteer Income Tax Assistance grant program, which helps non-profits to provide free tax assistance services to low- and moderate-income individuals. These programs help taxpayers to file their taxes and claim important tax credits- like the Earned Income Tax Credit (EITC). He has also worked with the IRS to increase awareness of the EITC through outreach in the Bronx.
Congressman Serrano continues to support efforts to maintain affordable housing options in the Bronx, and provided federal funding to help construct the first affordable housing facility in the nation for grandparents raising their grandchildren.
More on Economy and Jobs
In Washington, DC
Congressman Serrano Commemorates 16th Anniversary of September 11 Attacks
On the 16th Anniversary of September 11, Congressman Serrano released the following statement:
“16 years after the tragic events of September 11, we still remember the sadness and fear that befell our city and country on that heinous day.
Washington, DC – Congressman José E. Serrano applauded the decision by the United States Postal Service, after pressure from elected officials that he led and the public, to cancel most planned service cuts to the Bronx. The cuts would have reduced staffing at post offices across the borough, and would have degraded service quality at a number of locations. Late last year, a report by the U.S.
Washington, DC – Congressman Serrano joined his Democratic colleagues in Congress to unveil their new economic agenda for the American people – A Better Deal: Better Jobs, Better Wages, Better Future.
WASHINGTON, D.C. – Congressman José E. Serrano, U.S. Senators Charles E. Schumer and Kirsten Gillibrand, and a bipartisan coalition of members of the New York Congressional Delegation sent a letter to Jay Williams—the Assistant Secretary of the U.S. Department of Commerce —in support of full funding for GrowNYC’s Greenmarket Regional Food Hub grant proposal for their Hunts Point location.
Washington, DC –Congressman José E. Serrano announced today that the U.S. Department of Health and Human Services has awarded the Osborne Association in the Bronx $1,300,000 to support their Working Parents activities. Responsible Fatherhood funding helps fathers returning home from prison reestablish and/or deepen their connection to their children and/or partners.
Washington, D.C. – U.S. Senators Charles E. Schumer and Kirsten Gillibrand and Representatives Charles B Rangel (NY-13), Brian Higgins (NY-26), Nydia Velazquez (NY-7), Steve Israel (NY-3), Daniel Donovan (NY-11), José E.
Washington, DC – U.S. Congressman José E. Serrano, the most senior Member of Congress of Puerto Rican descent, sent a letter to the Congressional Task Force on Economic Growth in Puerto Rico with his recommendations for the task force as it decides how it will assist the island. In the letter, Congressman Serrano asks its members to include a number of specific items in its recommendations that are key to promoting Puerto Rico’s economic development and help working families on the island.
The Bronx, NY – U.S. Congressman José E. Serrano announced today that the U.S. Department of Commerce, Minority Business Development Agency (MBDA) has awarded $321,800 in funding to the South Bronx Overall Economic Development Corporation (SoBRO) to deliver strategic business consulting and deal-making services to eligible minority business enterprises (MBEs) under the MBDA Business Center program.
(Washington, D.C.) – Today, Reps. Joe Crowley (D-Queens, the Bronx), Vice Chair of the Democratic Caucus, José E. Serrano (D-the Bronx), and Ben Ray Luján (D-NM) announced the Commerce, Justice, Science, and Related Agencies Appropriations bill includes their push to require the National Science Foundation to move forward with a grant program to support Science, Technology, Engineering and Mathematics (STEM) education at Hispanic-Serving Institutions (HSIs).
Washington, DC – Congressman José Serrano today released the following statement in support of HR 5278, the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) in its current form: