By Federico Peña
Undoubtedly, the current economic crisis has had very negative effects on the Hispanic community. The overall unemployment rate among Hispanics is 11.3 percent, and among Latino youth, it’s even worse at 19.3 percent. Similarly, Hispanic small businesses have also suffered tremendously.
But, this economic crisis is the result of the same economic policies now being supported by the Republican presidential candidates – the same old trickle-down policies that only benefit big corporations and the rich. We’ve tried these tactics before; they did not work; not for our country, and certainly not for Hispanics.
In stark contrast to what Republicans are backing, President Obama’s proposal, the American Jobs Act, is a workable and practical solution that will create jobs for Hispanics. For example, The American Jobs Act would lower taxes for more than 250,000 Hispanic small businesses, providing incentives for them to hire more people. Additionally, the president’s proposal would provide training and employment for Hispanic youth. Finally with its tremendous infrastructure investments, the president’s plan would put millions of construction workers, many of whom are Hispanics, back to work.
In Colorado, The American Jobs Act would invest at least $494,800,000 dollars in construction projects for roads and streets, creating an estimated 6,400 jobs. It would invest in Colorado’s future by creating around 5,100 employment opportunities for Colorado’s youth. And the president’s plan to invest in school infrastructure projects would generate 3,400 jobs in our state.
Our president believes that putting Hispanics back to work is key to overcoming our economic crisis. He knows that America’s success and Hispanics’ success are intimately tied. As a community we must show our support for the president, and ask Congress to approve the American Jobs Act today.