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
The subcommittee will come to order.
The Bronx - Yesterday, Congressman José E. Serrano and New York State Senator José M. Serrano hosted their annual Black History Month Celebration in the Bronx with local community groups, advocates, and elected officials.
Washington, DC – Congressman José E. Serrano tonight released the following statement in response to President Trump’s State of the Union address in Congress:
WASHINGTON — Rep. Jose E. Serrano, House Appropriations Committee member and Chairman of the Commerce, Justice, Science Subcommittee today released the following statement on President Trump and Republicans’ agreement to temporarily reopen the federal government after 35 days of the Trump Shutdown:
The Bronx – Today, Tuesday October 16, Congressman José E. Serrano (D-NY) will join other Bronx elected officials, local working families, and postal union workers to call for the reestablishment of affordable banking services inside postal offices in the Bronx and the rest of the country.
Washington, DC – Today, Congressman José E. Serrano, in commemoration of the passage of Hurricane Maria through Puerto Rico a year ago, Congressman Serrano introduced the COMPROMISO Act - the Continuing Our Mission in Puerto Rico to Optimize and Modernize Infrastructure and Sustain Obligations Act. Co-sponsored by Reps.
In Washington, DC
Ros-Lehtinen, Serrano, and Menendez Issue Joint Statement in Response to UCLA Smithsonian Latino Inclusion Report
Washington, DC – Congressman José E. Serrano today announced that Fordham University has been awarded $1 million in funding for their project "Achievement in STEM through a Program of Immersive Research Experiences and Support.
Washington, DC – Congressman José E. Serrano today announced that Bronx Community College (BCC) has been awarded $4,999,921 in funding by the National Science Foundation (NSF) for their “Developing a Growth Mindset Model to Build Resiliency in STEM Students” project.
Washington, DC – Congressman José E. Serrano (D-NY) today announced the first round of National Science Foundation (NSF) funding under the Hispanic-Serving Institutions (HSI) Program.