Universities sign proposal to be included in Obama's stimulus plan
James Baker
Issue date: 1/14/09 Section: News
A proposal to include America's colleges and universities in an economic stimulus plan, signed by more than 40 higher education leaders including UA System President B. Alan Suggs, may pump money into UA projects ready to hit the ground running.
President-elect Barack Obama's current stimulus plan may approach $800 billion, and an open letter published in The New York Times and The Washington Post Dec. 16 that asked for 5 percent of the economic stimulus to be set aside for higher education facilities has universities in the mix for a helping hand.
New projects set to begin with proper funding include renovations to aging facilities, new classrooms and research facilities.
Suggs wasn't sure what would take place in the next few weeks as Obama enters office and the stimulus plan goes into effect, but he said he remains optimistic.
"I'm hopeful, but there are many entities and organizations that are trying to seek inclusion into the act," Suggs said. "Right now, I just couldn't say."
As of now, President George W. Bush granted Obama's request to ask Congress for the remaining $350 billion of the $700 billion financial bailout, while senators signaled they would approve the measure.
It's not a new concept for higher education to get federal funding to spur construction, jobs and subsequent state improvement, Suggs said.
"In the Great Depression, several buildings at the UA were built with funds that were provided by the federal government to help create jobs," he said.
Currently, while revenues have decreased, higher education in Arkansas hasn't been negatively impacted thus far, Suggs said.
Arkansas legislators will also sit down and hammer out a plan for the state lottery approved by Arkansas voters in the coming session.
Gambling is proving not to be a recession-proof industry, however, as casino construction across the nation slows and other state budgets depending on lottery benefits come up short.
But the first to face cuts in a slow economy in many state sessions is usually education. The next year will be challenging, with no other situation to which it could be compared, Suggs said.
As far as readily available scholarship money, $53 million has been accumulating in the state reserve, ready to be handed out to viable applicants.
Aid for higher education "could also enhance Pell Grants," Suggs said.
The pivotal moment takes place Tuesday, Jan. 20, as Obama is sworn as president, and from there he will take the reigns for Democrats and the nation as the economy still looms in uncertainty.
President-elect Barack Obama's current stimulus plan may approach $800 billion, and an open letter published in The New York Times and The Washington Post Dec. 16 that asked for 5 percent of the economic stimulus to be set aside for higher education facilities has universities in the mix for a helping hand.
New projects set to begin with proper funding include renovations to aging facilities, new classrooms and research facilities.
Suggs wasn't sure what would take place in the next few weeks as Obama enters office and the stimulus plan goes into effect, but he said he remains optimistic.
"I'm hopeful, but there are many entities and organizations that are trying to seek inclusion into the act," Suggs said. "Right now, I just couldn't say."
As of now, President George W. Bush granted Obama's request to ask Congress for the remaining $350 billion of the $700 billion financial bailout, while senators signaled they would approve the measure.
It's not a new concept for higher education to get federal funding to spur construction, jobs and subsequent state improvement, Suggs said.
"In the Great Depression, several buildings at the UA were built with funds that were provided by the federal government to help create jobs," he said.
Currently, while revenues have decreased, higher education in Arkansas hasn't been negatively impacted thus far, Suggs said.
Arkansas legislators will also sit down and hammer out a plan for the state lottery approved by Arkansas voters in the coming session.
Gambling is proving not to be a recession-proof industry, however, as casino construction across the nation slows and other state budgets depending on lottery benefits come up short.
But the first to face cuts in a slow economy in many state sessions is usually education. The next year will be challenging, with no other situation to which it could be compared, Suggs said.
As far as readily available scholarship money, $53 million has been accumulating in the state reserve, ready to be handed out to viable applicants.
Aid for higher education "could also enhance Pell Grants," Suggs said.
The pivotal moment takes place Tuesday, Jan. 20, as Obama is sworn as president, and from there he will take the reigns for Democrats and the nation as the economy still looms in uncertainty.
Viewing Comments 1 - 1 of 1
Molly Boyd
posted 1/14/09 @ 8:24 AM CST
The name of the UA system president is B. Alan Sugg, not Suggs.
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