WTC Records Folder 0140 label, 2001

NYC 9/11 Public Portal Document

Supporting Families and Dislocated Workers slowdown The events of September 11`" significantly exacerbate n economic are or soon will that was already occurring nationwide. Tens of thousand f individuals result of overall be unemployed, either as a direct result of the attacks as an indirect economic uncertainty. New York's workfo r, has unquestionably experienced the most severe blow. Nearl 377,000 rkers were displaced by the attacks, a number roughly equivalent to th pu a ion of the entire City of Atlanta. to extend Nearly 1,300 businesses were directly impacted. President Bush's proposals unemployment benefits nationwide, provide grants for health insurance coverage, accessing income supplementation and job training, and to provide assistance in mitigate this severe problem. existing job search and training services will significantly The State supports Federal efforts to ensure:

> 100 percent reimbursement for COBRA premiums. V L k S-~Qed~S ➢ Unemployment Insurance trust fund and workers compensation — an infusion of Federal funding will be necessary to reduce fiscal stress on the k'' State's two most important worker benefit funds, in addition to protecting employers from rate increases due to unusually high claims due to the terrorist attacks.

> Welfare-to-Work Funding — reduce Federal restrictions on the use of these funds to expand the o ulation of workers eligible to receive population workforce development services.

Economic Restitution Our analysis indicates that the State could experience significant direct and hard data indirect revenue losses stemming from the attack. We continue to gather the loss to necessary to this analysis but even under the most optimistic assumptions, the unrestricted both the State and the City will be extraordinary absent some form of Federal economic aid. This aid will likely be needed very quickly and over a period of years to allow the City and State to maintain vital services.

Infrastructure New York's transportation infrastructure programs present a readily available opportunity to stimulate the economy, create good paying jobs and spur development. Transportation, the The State's transportation agencies, such as the Department of begin Metropolitan Transportation Authority and the Thruway Authority are positioned to cycling this additional projects quickly, thus maximizing the use of Federal assistance by funding through the economy at once. The Federal Highway Administration has

C:\windows\TEMP\4-pointsummaryplan. doc

NYC-WTC 000136721