House passes $4.2 Billion Economic Development Bill

This week, Rep. Dan Ryan and his colleagues in the House passed a $4.2 billion Economic Development Bill that will make significant investments in Charlestown and across the state.

The bill utilizes American Rescue Plan Act (ARPA), Fiscal Year 2022 (FY22) surplus funds, and bonds to make significant investments across several vital sectors of the economy, and to give back to low and middle-income residents in Massachusetts by providing one-time rebates and significant tax relief beginning in 2023.

Ryan and the legislation addresses disparities exacerbated by the COVID-19 pandemic in the bill through one-time investments in health and human services, the environment and climate mitigation, economic development, housing, and food insecurity.

“I want to thank Chair Michelwitz, Speaker Mariano and my colleagues in the House for passing an Economic Development package that puts resources back into our cities and towns and into the hands of taxpayers as we continue to steer through these tough times,” said Ryan. “I was also able to allocate some specific funds for local programs that have experienced some unprecedented set-backs due to circumstances not of their doing.’

Important Charlestown provisions include providing 250,000 for Courageous Sailing Center in the Charlestown; $2 million for the Clougherty Pool and Doherty Park in Charlestown section; $1 million for Roca, Inc. to provide and administer a Transitional Employment (TEP) and other job placement programs for the highest-risk, court involved young people and adults in the commonwealth; and $500,000 for Year Up to implement workforce development programs that provide job opportunities for young adults.

“As Massachusetts residents continue to face severe inflation and economic uncertainty, I’m proud of the action taken by the House today that will provide low and middle-class taxpayers with much needed financial relief,” said House Speaker Ronald Mariano (D-Quincy).

“Included in this legislation are several significant tax relief proposals, over $2.5 billion worth of one-time industry targeted investments, economic relief rebates for qualifying taxpayers, and a newly established source of revenue to fund the state’s early education and care system. These are vital forms of real, tangible economic relief. I want to thank Chairs Michlewitz, Cusack, Parisella, Gregoire, and Hunt, as well as all my colleagues in the House, for the hard work required to put this ever-important economic development package together.”

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