WASHINGTON (HawaiiNewsNow) – Under a bill passed by the US House of Representatives Wednesday, Hawaii may receive 92 million dollars in federal funds to help relieve the school furlough crisis. The provision calls for unspent funds from the Troubled Asset Relief Program (TARP) for highways and transit, school renovation, hiring teachers, police, and firefighters, small business, job training and affordable housing,
"Based on current population data, the nonpartisan Congressional Research Service estimates that Hawaii would get approximately $92 million over two years from this fund," said Rep. Neil Abercrombie. "These investments are solely to pay for education-related jobs through the end of fiscal year 2011, and they're fully paid for by redirecting funds from Wall Street to Main Street."
Language in the bill says that the unspent bailout funds can be used for the retention of current employees and hiring of new employees to provide educational services in the public schools.
The Senate has yet to act on the legislation.
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