Jobs & Economy
Accelerating Economic Growth & Helping Businesses Create Good-Paying, Sustainable Jobs in Rhode Island
Rhode Island has been hit especially hard by the economic downturn and Senator Reed is working hard to help save and create jobs to get our economy back on track. He has led efforts to help make health care, college tuition, and energy more affordable for working families.
As a member of the Appropriations Committee, Reed has directed critical federal funding back to the state to improve our infrastructure, put more people to work, and lay the foundation for future economic growth. He is also ensuring the federal government makes smart investments in job-training, such as the $15 million he brought back to the state to help set up the Exeter Job Corps Academy, and other education programs to help keep our highly-skilled and talented college graduates in Rhode Island.
Toward the end of George W. Bush’s second term in office, the U.S. economy was losing 700,000 jobs per month and the recession was accelerating. Senator Reed voted for the Recovery Act, which cut taxes for 95% of American workers, invested over $2 billion in Rhode Island, and saved and created thousands of jobs throughout the Ocean State.
To further spur small business investment and put more Americans back to work, Reed helped pass the Hiring Incentives to Restore Employment (HIRE) Act and the Small Business Jobs Act, which included tax breaks for businesses to hire unemployed workers and purchase new equipment.
Reed has also championed an initiative to give businesses an incentive to keep workers on their payrolls with shorter hours as an alternative to laying them off.
Key Priorities & Accomplishments
- Reed helped pass the Small Business Jobs and Credit Act, establishing a $30 billion lending fund and $12 billion in tax breaks for small businesses.
- To help unemployed people looking for work and provide an additional $30 million per month to Rhode Island’s economy, Reed has led the fight to extend unemployment insurance which directly boosts every state’s economy, at a time when state spending is necessarily constrained. He also joined in the introduction of the Unemployment Insurance Solvency Act to give states greater flexibility in managing their costs without raising taxes on employers.
- To help increase America’s competitiveness in the global marketplace, Reed helped pass the America Competes Act to increase investment in research and strengthen educational opportunities in science, technology, engineering, and mathematics from elementary through graduate school to help the United States fortify its position as a world leader in technology and innovation.
- Reed worked to make Rhode Island eligible for $13.1 million from the State Small Business Credit Initiative (SSBCI) to help restore the flow of credit to small businesses and manufacturers so they can grow and create jobs. This federal funding may be leveraged to pump more than $130 million into Rhode Island’s economy.
Mr. REED. Mr. President, first of all, I think it is appropriate to make some comments. I appreciate the Senator from North Dakota being here and making his point. But we are at a juncture that within 2 weeks 1.3 million Americans will lose their Federal unemployment compensation insurance. It will be a...Posted on 12/10/2013 |
U.S. Senator Jack Reed today issued the following statement: "I hoped for a more comprehensive agreement but this is an important step forward. Commendably, this budget blueprint reduces economic uncertainty and blunts the impact of the sequester. It will help save jobs, redu...Posted on 12/10/2013 |
In an effort to prevent more than 1.3 million long-term unemployed workers from losing their unemployment insurance at the end of December -- and millions more from having no benefits after their initial 26 weeks of unemployment insurance (UI) are exhausted during the course of 2014...Posted on 12/6/2013 |
CRANSTON, RI - U.S. Senator Jack Reed is once again encouraging Rhode Islanders to support their neighborhood small businesses on Small Business Saturday, set for this Saturday, November 30. Small Business Saturday is a national movement that marks a day to support the local businesses that he...Posted on 11/25/2013 |
...Posted on 11/20/2013 |
In an effort to stabilize the economy and prevent 1.3 million Americans from having their federal jobless benefits cut off, U.S. Senators Jack Reed (D-RI), Debbie Stabenow (D-MI), and Tom Harkin (D-IA) today introduced the Emergency Unemployment Compensation (EUC) Extension Act of 2...Posted on 11/20/2013 |
According to the latest figures from the U.S. Department of Labor, Rhode Island has saved over 950 jobs since February of 2012 thanks to Senator Jack Reed’s law providing federal support to state work sharing programs (also known as Short-Term Compensation (STC) programs).&nbs...Posted on 11/19/2013 |