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.
The U.S. Senate today voted 59-38 to pass bipartisan legislation authored by U.S. Senators Jack Reed (D-RI) and Dean Heller (R-NV) to reauthorize emergency unemployment insurance benefits (UI) for five months. The Reed-Heller bill was cosponsored by Senators Susan Collins (R...Posted on 4/7/2014 |
U.S. Senators Reach Bipartisan Agreement to Restore Emergency Unemployment Insurance for Five Months
Seeking to boost the economy and provide relief for the more than 2 million job seeking Americans who have lost emergency unemployment insurance coverage since December 28, 2013, a group of 10 U.S. Senators led by Jack Reed (D-RI) and Dean Heller (R-NV) today announced an agreement...
Today, the U.S. Senate fell one short vote of breaking a Republican filibuster to advance U.S. Senator Jack Reed’s legislation to renew unemployment insurance (UI), help strengthen our economy, and assist 1.7 million long-term unemploye...
In an effort to prevent more than 1.3 million long-term unemployed workers from losing their unemployment insurance after the holidays, U.S. Senators Jack Reed (D-RI) and Dean Heller (R-NV) today introduced bipartisan legislation to preserve federal unemployment insurance (UI) for t...
Mr. REED. I come again to the floor to remind my colleagues that in 11 days 1.3 million Americans will lose their unemployment insurance. With the goal of providing certainty to these families that they will continue to have access to this vital lifeline, I and my colleague from Nevada, Senator Heller,...
Mr. REED. Mr. President, in 12 days, unemployment insurance will expire for 1.3 million Americans. This will impact virtually every State. Over the course of the next year, it will set back millions of hard-working families, slow down job growth, and slow our economic recovery. Today I filed three amendm...