ECONOMIC PROGRESS IN NEBRASKA
UNDER PRESIDENT CLINTON

President Clinton's strategy to strengthen the economy is based on reducing the federal budget deficit, lowering trade barriers, and empowering workers, families, businesses and communities to succeed. Here are some of the results for the nation and Nebraska after the first two years of the Clinton Administration:

Improved Economic and Fiscal Conditions in the United States:

• Under Clinton Economic Plan, the deficit will be lowered by more than $600 billion -- the deficit will be cut for three years in a row for the first time since Harry Truman was President.
• Almost 6 million new jobs created -- private sector job growth rate 8 times faster than during previous Administration.
• Federal government workforce will drop by 272,900 -- creating lowest workforce since the Kennedy Administration.

Improved Economic Conditions in Nebraska:

• 55% more new jobs per year -- 19,774 vs. 12,775 average during the previous 4 years.
• 77% more new private sector jobs per year -- 17,791 vs. 10,050 average during the previous 4 years.
• Nearly twice as many new manufacturing jobs per year -- 3,548 vs. 1,850 average during the previous 4 years.
• Bank lending is over twice as high as average annual growth during the previous 4 years -- $1.3 billion per year vs.
• $670 million per year.
• Business failures have dropped 43%.
• Home building has increased 8%.

What President Clinton's Accomplishments Have Achieved for the People of Nebraska:

13 TIMES MORE NEBRASKA FAMILIES RECEIVE A TAX CUT THAN A TAX INCREASE: As a result of the expanded Earned Income Tax Credit, 77,448 working families in Nebraska will receive a tax cut. This compares to an increase in the income tax rate for only the 5,811 wealthiest taxpayers in Nebraska.

TAX CUT FOR 9,008 SMALL BUSINESSES IN NEBRASKA: The President helped entrepreneurs, proprietors, and other small businessmen and women by expanding the annual expensing allowance from $10,000 to $17,500. About 9,008 small businesses in Nebraska are likely to benefit from the expansion of the expensing allowance this year alone and many more will benefit over the coming years.

264,000 NEBRASKA WORKERS PROTECTED BY FAMILY AND MEDICAL LEAVE ACT: The Family and Medical Leave Act allows workers to take up to 12 weeks of unpaid leave for the birth of a child, to care for a sick family member, or if they become too sick to work. This law covers about 263,628 workers in Nebraska, and protects the jobs of 15,837 workers in Nebraska who are likely to use unpaid leave this year alone.

346,800 STUDENTS AND FORMER STUDENTS IN NEBRASKA WILL BE ABLE TO BENEFIT FROM STUDENT LOAN REFORMS: Approximately 346,800 Nebraska borrowers -- 242,800 current borrowers and 104,000 new borrowers in the next few years -- can take advantage of the new direct student loan program by participating directly in the program or by consolidating guaranteed loans into direct loans. Some will benefit from lower interest rates, and all will benefit from more repayment options, including income contingent repayment.