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.
Read More »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.
The Latest
-
Reed: Export Bank an Important Tool for Job Growth
In an effort to help American companies compete in a global economy and sell more of their products overseas, U.S. Senator Jack Reed (D-RI) and a bipartisan coalition of senators have reached an agreement to advance legislation renewing the U.S. Export-Import (Ex-Im) Bank. The Ex-Im...
Posted on 5/14/2012 | -
Reed Announces Over $762,000 for RI Arts Organizations
In an effort to promote community arts programs and arts education throughout Rhode Island, U.S. Senator Jack Reed (D-RI) today announced that Rhode Island arts organizations will receive $762,800 in federal grants through the National Endowment for the Arts (NEA). These f...
Posted on 4/25/2012 | -
Reed Backs New Rules to Crack Down on Oil Market Manipulation
In an effort to protect consumers and curb rising gas prices, U.S. Senator Jack Reed is backing President Obama’s efforts to strengthen federal oversight of oil markets, stiffen penalties for market manipulation, and raise margin requirements energy traders must put...
Posted on 4/17/2012 | -
Reed, NEA Chairman Tour Woonsocket Arts District
WOONSOCKET, RI - In an effort to bolster economic development through the arts, U.S. Senator Jack Reed and National Endowment for the Arts (NEA) Chairman Rocco Landesman, the top arts official in the Obama Administration, today toured Woonsocket’s Main Street to get a firsthand look...
Posted on 4/10/2012 | -
Woonsocket Arts Tour
April 10, 2012...
Posted on 4/10/2012 | -
Greater Providence Chamber of Commerce 2012 Congressional Breakfast
April 9, 2012...
Posted on 4/9/2012 | -
Reed Prods House to Get Moving on Transportation Bill
With the current federal highway transportation bill set to expire in just 3 days, U.S. Senator Jack Reed (D-RI) is urging the U.S. House of Representatives to get moving and pass the bipartisan Moving Ahead for Progress in the 21st Century Act (MAP-21) that cleared the U.S. Sen...
