President Obama's American Jobs Bill would create a $30 billion Teacher Stabilization grant that would be awarded to each state based on population. For Texas, it could mean about $2.2 billion, if it passes Congress.
That's in addition to money the state and local districts could get through the $25 billion School Modernization grant program (See previous blog post) bringing the total Texas schools could be eligible to receive to an estimated $4.5 billion.
U.S. Secretary of Education Arne Duncan estimates the teacher stabilization program could save about 280,000 teacher jobs across the country.
In his speech to Congress last week about his bill, Obama stressed the importance of funding education.
"Pass this jobs bill and thousands of teachers in every state will go back to work," Obama said. "These are the men and women charged with preparing our children for a world where the competition has never been tougher."