Senate Bill Introduced to Boost Economic Development in the Americas

August 11, 2009 By Richard Parker

U.S. Senators Robert Menendez (D-NJ) and Mel Martinez (R-FL), joined by Senator Christopher Dodd (D-CT), introduced S. 1593 last week to provide $2 billion in assistance over a five-year period to the countries of Central America, South America, the Caribbean, and Mexico.  The Social Investment and Economic Development for the Americas Act of 2010 establishes a fund for poverty reduction, economic opportunity, key institution-building initiatives in the region, and cooperation on renewable energy.

The bills states, “It is in the national interest and national security interest of the U.S. to help foster greater economic security and stability in the Americas,” and “an increased U.S. commitment to economic and social development in the Region can benefit workers and businesses in the United States.”