Capuano Renews Call for Job Creation with TARP Funds

Supports Action by the President

December 4, 2009

In response to a statement made today by presidential spokesman Robert Gibbs, Representative Mike Capuano reiterated his support for President Barack Obama to use the remaining funds from the Troubled Asset Relief Program (TARP) to create jobs.

"I am pleased to hear that the President is likely to use TARP funds for this purpose," said Congressman Capuano. "I look forward to achieving this goal."

In November, Congressman Capuano sent a letter to the President asking him to use TARP funds for job creation.

Applauding the Administration's statement, Congressman Capuano said "As of November, there were $210 billion in TARP funds unspent, with an additional $50 billion expected to be repaid next year. We should use these funds to put struggling Americans back to work." TARP was originally established to address the financial crisis and to protect the wealth, homes and jobs of Americans. The national unemployment rate is currently 10%.

Contact: Jon Lenicheck (617) 621-6208