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.
U.S. Senator Jack Reed is urging Rhode Island’s business community, research universities, and state and local officials to work together to compete to bring a new “Manufacturing Innovation Institute” to Rhode Island. At a speech in Texas later today,...Posted on 5/9/2013 |
U.S. Senator Jack Reed tours businesses in Garden City in Cranston for a firsthand look at recent development efforts to expand and update the facilities at the shopping center, which houses 55 retailers....Posted on 4/29/2013 |
Senator Reed joins Providence Mayor Angel Taveras and Cranston Mayor Allan Fung at a job fair for service members and veterans at the Rhode Island Convention Center. Reed discussed the importance of helping veterans transition from military service to the civilian workforce. Over 90 employers and vetera...Posted on 4/26/2013 |
- U.S. Senator Jack Reed is “pleased” the U.S. Department of Labor is officially ending its suspension on new enrollments in the nation’s federal Job Corps program, but the Senator remains “deeply concerned” that sequestration and financial mismanagement at th...Posted on 4/23/2013 |
In an effort to support jobs in Rhode Island and create a level playing field for Rhode Island businesses, U.S. Senator Jack Reed, Governor Lincoln Chafee, and independent retailers today urged Congress to pass the Marketplace Fairness Act at Cardi's Furniture in Warwick. This bipartisan legislation would end...Posted on 4/22/2013 |
Senator Reed hosts energy roundtable event to discuss how energy efficiency can help Rhode Island businesses save money at Utilidata in Providence. ...Posted on 4/22/2013 |
As a leading Rhode Island-based manufacturer and distributor of quality jewelry findings and carding components that serves global customers, Dama Inc. hosted Senator Jack Reed at its headquarters in Johnston to discuss federal efforts to help boost local manufacturing and exporting. ...Posted on 4/10/2013 |