Congresswoman Kathy Castor is hailing the expected passage today of the Jobs for Main Street Act of 2010. This significant legislation will give a vital lifeline to Tampa Bay area families as they work to weather the economic downturn, while making critical investments in our community to help prevent future layoffs and help ensure jobs in areas including schools, public safety and transit.

Castor is particularly pleased that the Jobs for Main Street Act contains federal money to avoid state budget cuts to health care for children, pregnant women and seniors. The federal Medicaid match, known as the Federal Medical Assistance Percentage, or FMAP, is particularly important during an economic downturn when the state struggles to balance its budget. Florida Medicaid serves approximately 2.7 million children, pregnant women and seniors. Castor wrote to Speaker Nancy Pelosi last week, urging her to include this additional money in this jobs legislation.

“Health care investments create and preserve jobs in the state while ensuring that families receive affordable medical care,” Castor wrote. “As you are aware, economists say the infusion of Medicaid dollars is one of the most rapid and effective ways to stimulate the economy.”

Today, Castor said: “I am confident that addressing Florida’s serious budget shortfall during this time of continued economic stress will provide states and families with the extra assistance needed until our economy fully recovers.”

The Jobs for Main Street Act contains several other important provisions for Floridians. It extends unemployment benefits for six months and extends until June 30 COBRA health insurance subsidies for those who have lost their jobs.

“Though I see signs that the economy is recovering, too many Floridians are still out of work,” Castor said. “Extending unemployment benefits will help families buy groceries, pay doctors bills and keep their mortgages, while also having ripple effects in the overall economy. Extending COBRA subsidies means families can better afford health insurance.”

To help small businesses, the Jobs for Main Street Act eliminates fees on Small Business Administration loans and encourages banks to lend to small business. Small businesses are a critical part of the Tampa Bay area’s economy, and Castor has heard from small business owners about the importance of access to credit.

The Jobs for Main Street Act also invests in transit, a move that will create much-needed infrastructure jobs. Castor has been a strong advocate for mass transit in the Tampa Bay area and has been working on behalf of Florida’s effort to bring federal money for high speed rail to the state. The legislation also makes investments in education, law enforcement and fire departments.

“Teachers, police officers and firefighters due some of the most important work in our community, so preserving jobs in these fields is essential,” Castor said. “Through the Jobs for Main Street Act, we putting resources where they are most needed to preserve jobs and give a lifeline to Florida families.”