Sec. 7002. Sense of the Senate on appropriations levels and findings on economic impacts
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It is the sense of the Senate that Congress should provide robust funding for the State drinking water treatment revolving loan funds established under section 1452 of the Safe Drinking Water Act ( 42 U.S.C. 300j–12 ) and the State water pollution control revolving funds established under title VI of the Federal Water Pollution Control Act ( 33 U.S.C. 1381 et seq. ). Congress finds, based on an analysis sponsored by the Water Environment Federation and the WateReuse Association of the nationwide impact of State revolving loan fund spending using the IMPLAN economic model developed by the Federal Government, that, in addition to the public health and environmental benefits, the Federal investment in safe drinking water and clean water provides the following benefits:
Generation of significant Federal tax revenue, as evidenced by the following: Every dollar of a Federal capitalization grant returns $0.21 to the general fund of the Treasury in the form of Federal taxes and, when additional spending from the State revolving loan funds is considered to be the result of leveraging the Federal investment, every dollar of a Federal capitalization grant returns $0.93 in Federal tax revenue. A combined $34,700,000,000 in capitalization grants for the clean water and state drinking water state revolving loan funds described in subsection
(a)over a period of 5 years would generate $7,430,000,000 in Federal tax revenue and, when additional spending from the State revolving loan funds is considered to be the result of leveraging the Federal investment, the Federal investment will result in $32,300,000,000 in Federal tax revenue during that 5-year period. An increase in employment, as evidenced by the following: Every $1,000,000 in State revolving loan fund spending generates 16 ½ jobs. $34,700,000,000 in Federal capitalization grants for State revolving loan funds over a period of 5 years would result in 506,000 jobs. An increase in economic output: Every $1,000,000 in State revolving loan fund spending results in $2,950,000 in output for the economy of the United States. $34,700,000,000 in Federal capitalization grants for State revolving loan funds over a period of 5 years will generate $102,700,000,000 in total economic output.
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- 42 USC 300j–12
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Sec. 7002
Sense of the Senate on appropriations levels and findings on economic impacts
Cite42 USC 300j–12
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