As the federal government works on doling out the economic stimulus package nationwide, many Harlemites are asking the question: How exactly will the money benefit us?
On Friday, March 13, The Upper Manhattan Economic Summit was held at the Schomburg Center for Research in Black Culture, by Community Boards 9, 10, 11 and 12 and co-hosted with the Harlem Community Development Corporation and the Harlem Business Alliance, to answer that seemingly simple but complex question.
Among the keynote speakers were Congressman Charles B. Rangel (D-NY), Manhattan Borough President Scott M. Stringer, Senator Charles Schumer (D-NY), Assemblyman Keith L.T. Wright (D) and State Senator Bill Perkins (D). At least 250 people from the Harlem community were in attendance.
Councilmember Inez Dickens (D), of District 9 spoke on the "bailout" money that the federal government gave in order to save big banks and big businesses with taxpayers' money, but she asked the question, "What about our hospitals? Our cultural institutions? Home foreclosures? Jobs?" She also stressed the point that communities like Harlem and other inner-city areas are "hit the hardest" during the recession because "we're already on the bottom."
Manhattan Borough President Stringer applauded the four community boards for coming together to ensure that Harlem utilized its stimulus package in the most needed areas and urges for a "multi-racial" and "multi-generational" coalition to "create jobs and protect families." He also stated that the recession "does not affect everybody equally" because "the unemployment rate is three times higher than the national average in the African-American and Hispanic community."
Congressman Rangel used the popular phrase "Yes, we can!" when describing how it is possible to "change the economy" and "clean the atmosphere." He also stated, "It can't be done by giving pretty speeches." Rangel explained that some of the stimulus money has to be given to small business in Harlem so that "the goods and services can be bought and sold" and "small businesses in Harlem can employ people from the Harlem community."
During the event, an excerpt of the economic stimulus plan was reviewed. New York State is expected to receive $24.6 billion in total funding and $11 billion is expected to go toward the Federal Medical Assistance Percentages (FMAP), which is designed to provide fiscal relief through increased Medicaid reimbursements.
In addition, $2.5 billion is expected to restore the proposed reductions in funding for education, with $940 million going toward "high needs students" and $760 million going toward special education.
New York State is expected to receive at least $1.25 billion for mass transit and $1.1 billion for highways and bridges, which is desperately needed in New York City.
In addition, New York State is expected to receive $1.3 billion in enhanced Food Stamp benefits, $1.3 billion to fund a 33-week expansion of unemployment benefits (to a total of 59 weeks), and $100 million for childcare services for low-income individuals.
Observing those in attendance, they seem really inspired by President Barack Obama's call and promise for "change." Harlemites are hoping that his economic stimulus plan will actually deliver his promises.
For a complete review of the economic stimulus plan, log on to the New York State website at www.economicrecovery.ny.gov
VIDEO :: Harlem and the Stimulus Package: Congressman Charles Rangel, representative from Harlem, delivered the opening at the Upper Manhattan Economic Summit, March 13th.
